Westlake Chemical Partners LP (NYSE:WLKP) Plans Quarterly Dividend of $0.47

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Friday, February 7th will be given a dividend of 0.4714 per share by the basic materials company on Tuesday, February 25th. This represents a $1.89 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47.

Westlake Chemical Partners has a dividend payout ratio of 81.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Westlake Chemical Partners to earn $1.70 per share next year, which means the company may not be able to cover its $1.89 annual dividend with an expected future payout ratio of 111.2%.

Westlake Chemical Partners Stock Up 1.2 %

Westlake Chemical Partners stock opened at $24.80 on Wednesday. The company has a 50 day moving average of $23.68 and a 200-day moving average of $22.98. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners has a twelve month low of $21.19 and a twelve month high of $24.96. The stock has a market capitalization of $873.95 million, a PE ratio of 14.21 and a beta of 1.09.

Westlake Chemical Partners (NYSE:WLKP) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.15. The firm had revenue of $277.00 million during the quarter, compared to analysts’ expectations of $244.16 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts anticipate that Westlake Chemical Partners will post 1.55 EPS for the current fiscal year.

About Westlake Chemical Partners

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.