Global Partners LP (GLP) to Issue Quarterly Dividend of $0.77 on May 15th

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Thursday, April 30th. Shareholders of record on Monday, May 11th will be paid a dividend of 0.765 per share by the energy company on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, May 11th. This is a 0.7% increase from Global Partners’s previous quarterly dividend of $0.76.

Global Partners has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Global Partners has a payout ratio of 101.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Partners to earn $3.24 per share next year, which means the company should continue to be able to cover its $3.06 annual dividend with an expected future payout ratio of 94.4%.

Global Partners Trading Up 1.5%

Shares of Global Partners stock opened at $48.49 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14. Global Partners has a 52 week low of $39.58 and a 52 week high of $56.51. The stock has a 50 day moving average price of $46.57 and a two-hundred day moving average price of $45.25. The stock has a market capitalization of $1.65 billion, a PE ratio of 22.98 and a beta of 1.04.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.52. Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $6.98 billion. As a group, equities analysts anticipate that Global Partners will post 3.19 earnings per share for the current fiscal year.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.