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

Westlake Chemical Partners LP (NYSE:WLKP) announced a quarterly dividend on Monday, August 3rd. Investors of record on Thursday, August 13th will be paid a dividend of 0.4714 per share by the basic materials company on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 13th.

Westlake Chemical Partners has a dividend payout ratio of 92.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Westlake Chemical Partners to earn $1.71 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 109.9%.

Westlake Chemical Partners Stock Down 1.1%

Shares of NYSE:WLKP opened at $21.40 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.57 and a current ratio of 3.65. Westlake Chemical Partners has a 52-week low of $17.75 and a 52-week high of $23.88. The business’s 50 day simple moving average is $22.51 and its two-hundred day simple moving average is $22.23. The firm has a market cap of $754.35 million, a P/E ratio of 13.05, a PEG ratio of 0.61 and a beta of 0.53.

Westlake Chemical Partners (NYSE:WLKP) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Westlake Chemical Partners had a net margin of 4.69% and a return on equity of 7.15%. The firm had revenue of $305.68 million for the quarter, compared to the consensus estimate of $522.00 million. As a group, research analysts forecast that Westlake Chemical Partners will post 1.88 EPS for the current fiscal year.

About Westlake Chemical Partners

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.