CrossAmerica Partners LP (NYSE:CAPL) Declares Quarterly Dividend of $0.53

CrossAmerica Partners LP (NYSE:CAPL) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Monday, November 3rd will be paid a dividend of 0.525 per share by the oil and gas company on Thursday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, November 3rd.

CrossAmerica Partners has a payout ratio of 411.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CrossAmerica Partners to earn $0.22 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 954.5%.

CrossAmerica Partners Stock Up 2.4%

Shares of CrossAmerica Partners stock opened at $20.83 on Friday. The stock’s fifty day moving average is $20.63 and its 200-day moving average is $21.44. The firm has a market capitalization of $793.85 million, a PE ratio of 18.43 and a beta of 0.48. CrossAmerica Partners has a 12-month low of $19.50 and a 12-month high of $25.73.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The company had revenue of $961.93 million for the quarter, compared to analyst estimates of $793.52 million. CrossAmerica Partners had a negative return on equity of 32.78% and a net margin of 1.19%. Analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.