Martin Midstream Partners L.P. (NASDAQ:MMLP) announced a quarterly dividend on Wednesday, April 21st, Zacks reports. Investors of record on Friday, May 7th will be paid a dividend of 0.005 per share by the pipeline company on Friday, May 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 6th.
Martin Midstream Partners has decreased its dividend by 93.3% over the last three years and has raised its dividend every year for the last 1 years. Martin Midstream Partners has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Midstream Partners to earn $0.09 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 22.2%.
Shares of NASDAQ:MMLP opened at $2.17 on Tuesday. Martin Midstream Partners has a 1 year low of $1.03 and a 1 year high of $3.42. The business has a fifty day simple moving average of $2.45 and a 200 day simple moving average of $2.00. The firm has a market cap of $84.20 million, a price-to-earnings ratio of 36.17 and a beta of 2.99.
Separately, Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 28th.
About Martin Midstream Partners
Martin Midstream Partners LP engages in a diverse set of operations focused primarily in the United States Gulf Coast region. It operates through the following segments: Terminalling and Storage, Transportation, Sulfur Services, and Natural Gas Liquids. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases.
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