CVR Partners Declares Reduced Q4 Dividend
CVR Partners has declared a payout of $0.192 per unit for its Q4, the company announced in a news release Thursday. The distribution will be paid on Feb. 14 to holders of its common units as of the close of business Feb. 7.
On an annualized basis, the distribution is worth $0.768. This places the partnership's fourth-quarter annualized yield at approximately 2.6%. However, the trailing-twelve-month distribution yield is 6.27%.
The payout is substantially less than in preceding quarters -- most recently it stood at $0.496 per unit. CVR said scheduled major plant maintenance in October significantly impacted cash available for distribution in the fourth quarter. CVR said the fourth-quarter cash distribution brings the cumulative cash distributions paid or declared for the 2012 full year to $1.81 per common unit, which exceeds the company's distribution guidance of $1.70 to $1.80 per common unit.
linkIn a previous version of this article, CVR Partner's distribution yield was incorrectly stated. The Motley Fool regrets the error.
The article CVR Partners Declares Reduced Q4 Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in CVR Partners. The Motley Fool has no position in CVR Partners. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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