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

Westlake Chemical Partners LP (NYSE:WLKP) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, February 7th will be paid a dividend of 0.4714 per share by the basic materials company on Tuesday, February 25th. This represents a $1.89 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47.

Westlake Chemical Partners has a dividend payout ratio of 81.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Price Performance

Shares of Westlake Chemical Partners stock traded up $0.01 during trading hours on Tuesday, hitting $24.58. The company’s stock had a trading volume of 16,953 shares, compared to its average volume of 33,838. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. Westlake Chemical Partners has a 12-month low of $21.19 and a 12-month high of $24.60. The business has a 50 day moving average price of $23.54 and a two-hundred day moving average price of $22.93. The company has a market cap of $866.20 million, a PE ratio of 14.05 and a beta of 1.10.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.36 by $0.15. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. The business had revenue of $277.00 million for the quarter, compared to analysts’ expectations of $244.16 million. During the same quarter in the previous year, the company earned $0.37 EPS. Analysts expect that Westlake Chemical Partners will post 1.55 earnings per share 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.