HF Sinclair Corporation (NYSE:DINO) Announces Quarterly Dividend of $0.50

Key Points

• HF Sinclair Corporation announced a quarterly dividend of $0.50 per share, with an annualized dividend amounting to $2.00 and a yield of 4.7%.
• The company's payout ratio is 63.3%, and analysts project a future payout ratio of 47.7%, indicating the dividend is well-covered by earnings.
• Despite reporting earnings of $1.70 per share last quarter, which exceeded estimates, HF Sinclair's revenue decreased by 13.5% year-over-year, totaling $6.78 billion.

HF Sinclair Corporation (NYSE:DINO - Get Free Report) declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 0.50 per share on Thursday, September 4th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, August 21st.

HF Sinclair has a payout ratio of 63.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HF Sinclair to earn $4.19 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 47.7%.

HF Sinclair Stock Performance

Shares of DINO stock traded down $1.60 on Friday, hitting $42.34. The company had a trading volume of 2,694,458 shares, compared to its average volume of 2,987,049. The company has a quick ratio of 0.76, a current ratio of 1.87 and a debt-to-equity ratio of 0.29. HF Sinclair has a twelve month low of $24.66 and a twelve month high of $49.92. The company has a 50-day moving average price of $41.20 and a 200-day moving average price of $36.16. The firm has a market cap of $7.98 billion, a P/E ratio of -54.99 and a beta of 0.93.

HF Sinclair (NYSE:DINO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.61. HF Sinclair had a positive return on equity of 0.05% and a negative net margin of 0.51%. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the business earned $0.78 EPS. HF Sinclair's revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, equities research analysts predict that HF Sinclair will post 2.39 earnings per share for the current fiscal year.

About HF Sinclair

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.

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