Ultrapar Participacoes SA (NYSE:UGP) Plans Dividend Increase – $0.28 Per Share

Ultrapar Participacoes SA (NYSE:UGP) announced a semiannual dividend on Monday, February 26th, Wall Street Journal reports. Stockholders of record on Monday, March 5th will be given a dividend of 0.2775 per share by the oil and gas company on Thursday, March 22nd. This represents a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, March 2nd. This is a boost from Ultrapar Participacoes’s previous semiannual dividend of $0.27.

Ultrapar Participacoes has decreased its dividend by an average of 3.8% per year over the last three years and has increased its dividend every year for the last 2 years. Ultrapar Participacoes has a dividend payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ultrapar Participacoes to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 43.5%.

UGP stock traded up $0.34 on Wednesday, hitting $21.58. 441,089 shares of the stock were exchanged, compared to its average volume of 489,203. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.17 and a quick ratio of 1.67. The stock has a market capitalization of $11,990.53, a price-to-earnings ratio of 23.98 and a beta of 1.14. Ultrapar Participacoes has a 12 month low of $20.91 and a 12 month high of $26.48.

Ultrapar Participacoes (NYSE:UGP) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.60 billion. Ultrapar Participacoes had a net margin of 1.97% and a return on equity of 17.10%. analysts forecast that Ultrapar Participacoes will post 1.08 earnings per share for the current year.

Separately, Zacks Investment Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Ultrapar Participacoes in a report on Saturday, January 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.00.

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About Ultrapar Participacoes

Ultrapar Participações SA, through its subsidiaries, engages in the liquefied petroleum gas (LPG) distribution, fuel distribution, and related businesses. It operates through five segments: Gas Distribution, Fuel Distribution, Chemicals, Storage, and Drugstores. The Gas Distribution segment distributes LPG to residential, commercial, and industrial consumers, as well as independent dealers, principally in the South, Southeast, and Northeast regions of Brazil.

Dividend History for Ultrapar Participacoes (NYSE:UGP)

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