Westlake Chemical Partners LP (WLKP) to Issue Quarterly Dividend of $0.47 on February 25th

Posted by Renee Jackson on Jan 29th, 2025

Westlake Chemical Partners LP (NYSE:WLKP – Get Free Report) declared a quarterly dividend on Monday, January 27th,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 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.47.

Westlake Chemical Partners has a 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 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 Performance

Shares of Westlake Chemical Partners stock opened at $24.58 on Wednesday. The firm’s fifty day simple moving average is $23.54 and its 200-day simple moving average is $22.93. The stock has a market capitalization of $866.20 million, a price-to-earnings ratio of 14.05 and a beta of 1.10. Westlake Chemical Partners has a 12 month low of $21.19 and a 12 month high of $24.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.53 and a quick ratio of 4.46.

Westlake Chemical Partners (NYSE:WLKP – Get Free Report) last released its quarterly earnings data 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 analyst estimates of $244.16 million. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities analysts forecast that Westlake Chemical Partners will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Company Profile

(Get Free Report)

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.