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CVR Partners Declares Reduced Q4 Dividend

CVR Partners (NYSE: UAN  ) 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.

Read/Post Comments (6) | Recommend This Article (8)

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  • Report this Comment On January 25, 2013, at 3:37 PM, fredricjl wrote:

    You need to read the whole news release and see that the 2013 dividend will exceed the 2012 dividend. Stop writing articles when you don't have all the information!

  • Report this Comment On January 25, 2013, at 3:56 PM, onemojoman wrote:

    Agreed, fredricjl. The nervous-nelly cupon-clippers all bailed today, without reading the whole article. Love it when stocks go "on sale". Long UAN and Aug calls.


  • Report this Comment On January 25, 2013, at 5:22 PM, TMFVolkman wrote:

    I stand by my story. The just-declared payout is significantly lower than in previous periods.

  • Report this Comment On January 25, 2013, at 5:30 PM, TMFBlacknGold wrote:

    Eric simply compared what the distribution would be if paid for a full year to illustrate how much it has been impacted by turnaround delays. We'll see how the delays impact product sales in the next quarter - something to keep an eye on.


    Disclosure: Long UAN

  • Report this Comment On January 27, 2013, at 2:59 AM, DrGoldin wrote:

    The misleading statement is this one: "This places the partnership's yield at approximately 2.6%." You can't state an annualized yield on the basis of a single and exceptional quarterly payment. Otherwise, I thought the article was accurate.

  • Report this Comment On January 28, 2013, at 3:11 PM, Domeyrock wrote:

    We already knew from the beginning the dividend was going to fluctuate. But do they have a lot of growth ahead? Are they going to double their production by the end of 2013? Absolutely. This is a small blip on there prosperous future. You guys should be used to these nonsense articles by now. That's why it's free for the general public. You have to be a paid member for quality information unfortunately.

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CVR Partners CAPS Rating: ****