Enviva Partners LP (NYSE:EVA) announced a quarterly dividend on Thursday, January 31st, Wall Street Journal reports. Shareholders of record on Friday, February 15th will be given a dividend of 0.64 per share by the energy company on Thursday, February 28th. This represents a $2.56 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Enviva Partners’s previous quarterly dividend of $0.64.
Enviva Partners has increased its dividend payment by an average of 52.8% annually over the last three years and has increased its dividend every year for the last 3 years. Enviva Partners has a payout ratio of 498.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enviva Partners to earn $1.71 per share next year, which means the company may not be able to cover its $2.54 annual dividend with an expected future payout ratio of 148.5%.
NYSE:EVA traded up $0.14 during trading hours on Thursday, reaching $30.30. The company had a trading volume of 82,752 shares, compared to its average volume of 40,974. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.06. The stock has a market capitalization of $806.03 million, a price-to-earnings ratio of 49.67 and a beta of 0.94. Enviva Partners has a twelve month low of $25.01 and a twelve month high of $33.20.
Separately, Zacks Investment Research cut shares of Enviva Partners from a “buy” rating to a “hold” rating in a report on Tuesday.
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Enviva Partners Company Profile
Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and power generators in the United Kingdom and other European markets. Enviva Partners GP, LLC operates as the general partner of the company. Enviva Partners, LP was founded in 2013 and is based in Bethesda, Maryland.
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