CVR Partners, LP (NYSE:UAN) to Issue Quarterly Dividend of $1.75

CVR Partners, LP (NYSE:UAN) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be given a dividend of 1.75 per share by the basic materials company on Monday, March 10th. This represents a $7.00 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from CVR Partners’s previous quarterly dividend of $1.19.

CVR Partners has raised its dividend by an average of 12.9% per year over the last three years.

CVR Partners Trading Up 1.6 %

UAN opened at $80.16 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.15 and a quick ratio of 1.44. The company’s 50 day simple moving average is $78.42 and its two-hundred day simple moving average is $73.49. CVR Partners has a 1-year low of $61.62 and a 1-year high of $88.94. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.92 and a beta of 1.35.

CVR Partners (NYSE:UAN) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 EPS for the quarter. The firm had revenue of $139.56 million for the quarter. CVR Partners had a net margin of 11.59% and a return on equity of 20.56%.

Insider Activity at CVR Partners

In related news, major shareholder Carl C. Icahn bought 2,840 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $74.74 per share, for a total transaction of $212,261.60. Following the acquisition, the insider now owns 174,192 shares of the company’s stock, valued at approximately $13,019,110.08. This trade represents a 1.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 23,855 shares of company stock worth $1,777,923.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of CVR Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th.

About CVR Partners

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.