CVR Partners, LP (NYSE:UAN) to Issue Dividend Increase - $1.75 Per Share

CVR Partners, LP (NYSE:UAN - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be given a dividend of 1.75 per share by the basic materials company on Monday, March 10th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from CVR Partners's previous quarterly dividend of $1.19.

CVR Partners has increased its dividend payment by an average of 12.9% annually over the last three years.

CVR Partners Trading Down 1.2 %

Shares of NYSE:UAN traded down $0.96 during trading on Friday, reaching $79.78. The stock had a trading volume of 37,381 shares, compared to its average volume of 32,649. The business has a fifty day moving average price of $78.62 and a 200-day moving average price of $73.58. The company has a quick ratio of 1.44, a current ratio of 2.15 and a debt-to-equity ratio of 1.91. The stock has a market cap of $1.37 billion, a P/E ratio of 13.85 and a beta of 1.35. CVR Partners has a fifty-two week low of $61.62 and a fifty-two week high of $88.94.

CVR Partners (NYSE:UAN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.73 EPS for the quarter. CVR Partners had a net margin of 11.59% and a return on equity of 20.56%. The firm had revenue of $139.56 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CVR Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday.

Insider Activity

In other news, major shareholder Carl C. Icahn bought 6,202 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $74.22 per share, for a total transaction of $460,312.44. Following the completion of the purchase, the insider now owns 162,457 shares of the company's stock, valued at $12,057,558.54. This trade represents a 3.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders bought 23,855 shares of company stock worth $1,777,923.

About CVR Partners

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.