CVR Partners LP - Unit said on May 1, 2023 that its board of directors declared a regular quarterly dividend of $10.43 per share ($41.72 annualized). Previously, the company paid $10.50 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 22, 2023.
At the current share price of $101.69 / share, the stock's dividend yield is 41.03%.
Looking back five years and taking a sample every week, the average dividend yield has been 14.09%, the lowest has been 7.02%, and the highest has been 29.39%. The standard deviation of yields is 5.66 (n=129).
The current dividend yield is 4.76 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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What is the Fund Sentiment?
There are 60 funds or institutions reporting positions in CVR Partners LP - Unit. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to UAN is 0.24%, an increase of 36.36%. Total shares owned by institutions decreased in the last three months by 13.53% to 1,407K shares. 
The put/call ratio of UAN is 1.08, indicating a bearish outlook.
What are Other Shareholders Doing?
Natixis holds 210K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 192K shares, representing an increase of 8.47%. The firm increased its portfolio allocation in UAN by 15.10% over the last quarter.
Goldman Sachs Group holds 130K shares representing 1.23% ownership of the company. In it's prior filing, the firm reported owning 57K shares, representing an increase of 56.29%. The firm increased its portfolio allocation in UAN by 94.70% over the last quarter.
Ion Asset Management holds 89K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 88K shares, representing an increase of 0.44%. The firm decreased its portfolio allocation in UAN by 24.07% over the last quarter.
Zazove Associates holds 77K shares representing 0.73% ownership of the company. No change in the last quarter.
Group One Trading holds 73K shares representing 0.69% ownership of the company. In it's prior filing, the firm reported owning 19K shares, representing an increase of 73.62%. The firm increased its portfolio allocation in UAN by 294.49% over the last quarter.
CVR Partners Background Information
(This description is provided by the company.)
Headquartered in Sugar Land, Texas, CVR Partners, LP is a Delaware limited partnership focused on the production, marketing and distribution of nitrogen fertilizer products. It primarily produces urea ammonium nitrate (UAN) and ammonia, which are predominantly used by farmers to improve the yield and quality of their crops. CVR Partners' Coffeyville, Kansas, nitrogen fertilizer manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,000 ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen. CVR Partners' East Dubuque, Illinois, nitrogen fertilizer manufacturing facility includes a 1,075 ton-per-day ammonia unit and a 1,100 ton-per-day UAN unit.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
