Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Shareholders of record on Tuesday, November 14th will be paid a dividend of 0.3756 per share by the basic materials company on Wednesday, November 29th. This represents a $1.50 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend is Monday, November 13th. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.37.

Westlake Chemical Partners has a dividend payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Westlake Chemical Partners to earn $15.35 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 9.8%.

Shares of Westlake Chemical Partners (NYSE:WLKP) opened at $22.05 on Friday. Westlake Chemical Partners has a one year low of $20.00 and a one year high of $26.25. The stock has a market capitalization of $596.65, a P/E ratio of 14.04 and a beta of 1.20. The company has a current ratio of 4.84, a quick ratio of 5.47 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Westlake Chemical Partners had a return on equity of 4.73% and a net margin of 3.80%. The firm had revenue of $296.78 million for the quarter. equities research analysts expect that Westlake Chemical Partners will post 16.43 EPS for the current fiscal year.

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Separately, BidaskClub cut Westlake Chemical Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th.

About Westlake Chemical Partners

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.

Dividend History for Westlake Chemical Partners (NYSE:WLKP)

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