From $1.16 to 55 cents this year and $1.53 to $1.14 next year.I doubt the $1.14 for next year is even attainable.I can`t see the distribution staying this high either.Eventually you are going to have to pay the piper.
share price keeps dropping because they lost money last quarter, and as a former Shell gas station owner I can tell you that gas station margins are terrible.
If you look closely at Global Partners its dividend coverage 5-6 years ago was outstanding: 1.8x but that has dropped every year to now where they are at around 1.0x coverage. There is no reason to think that the coverage of the dividend which has been in constant decline year after year will not drop further which means a dividend cut in 2012. When that happens these shares probably drop further.
No - GLP's stations are in New England - MA, NH and RI. I live in NY. My comment was just on lower gas prices resulting in higher volumes. Nothing specific to GLP.
I will say that I am amazed that GLP's price has continued to drop, even as other MLPs have stopped dropping and begun to rise a bit. No great volume, so it isn't necessarily people dumping their units, but there just doesn't seem to be much demand. GLP is getting incredibly cheap.
jrad52 Do you currently own glp? What do you suggest doing for someone who currently owns 1600 shares? Would you sell or do you expect a rebound next year? Is the company fundamentally sound or do you know? Your thoughts , please. Thanks
Paying the vig on the gas stations is draining.Also in this day and age Mobil is the last place I`d go.It`s too expensive.You save $2 or $3 by going across the street to Hess.Dishing out $2/yr on distribution is alot when you are not making $2/share in profit.