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

Key Points

• CrossAmerica Partners LP has announced a quarterly dividend of $0.53 per share, set to be paid on November 13th to shareholders of record on November 3rd. This results in an annualized yield of 10.3%.
• The company's current dividend payout ratio stands at 411.8%, indicating that it is relying on its balance sheet rather than earnings to cover dividends.
• CrossAmerica reported earnings per share of $0.07 for the most recent quarter, falling short of analyst expectations, despite revenue exceeding estimates at $961.93 million.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Shareholders 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 yield of 10.3%. The ex-dividend date of this dividend is Monday, November 3rd.

CrossAmerica Partners has a dividend 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 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 Trading Up 1.7%

Shares of CrossAmerica Partners stock opened at $20.32 on Thursday. The stock's fifty day moving average price is $20.64 and its 200-day moving average price is $21.45. The firm has a market cap of $774.41 million, a P/E ratio of 17.98 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 - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). The firm had revenue of $961.93 million during the quarter, compared to the consensus estimate of $793.52 million. CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. Analysts forecast that CrossAmerica Partners will post 0.42 earnings per share for the current year.

About CrossAmerica Partners

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.

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