Global Partners LP (NYSE:GLP – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.71 per share by the energy company on Wednesday, May 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Wednesday, May 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.70.
Global Partners has increased its dividend by an average of 12.2% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Global Partners has a payout ratio of 63.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Global Partners to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 63.7%.
Global Partners Price Performance
Shares of GLP opened at $48.20 on Tuesday. The stock has a market cap of $1.63 billion, a P/E ratio of 12.82 and a beta of 1.33. Global Partners has a 1 year low of $27.07 and a 1 year high of $49.50. The stock’s 50-day moving average price is $46.35 and its two-hundred day moving average price is $42.08. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.
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About Global Partners
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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