CrossAmerica Partners LP (NYSE:CAPL) Shareholders to Get $0.53 Quarterly Dividend

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Monday, November 2nd will be given a dividend of $0.5250 per share by the oil and gas company on Thursday, November 12th. This represents a $2.10 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Monday, November 2nd.

CrossAmerica Partners has a payout ratio of 411.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CrossAmerica Partners to earn $1.15 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 182.6%.

CrossAmerica Partners Trading Up 0.5%

Shares of NYSE CAPL traded up $0.10 during midday trading on Thursday, reaching $22.00. 7,541 shares of the stock were exchanged, compared to its average volume of 42,391. The stock has a 50 day moving average price of $22.43 and a 200-day moving average price of $22.10. The company has a market capitalization of $839.81 million, a P/E ratio of 16.06 and a beta of 0.34. CrossAmerica Partners has a 52-week low of $19.78 and a 52-week high of $24.63.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $731.45 million. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. On average, analysts forecast that CrossAmerica Partners will post 1.23 earnings per share for the current year.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.