GLP - Global Partners LP: 9 Straight Dividend Hikes 6%-Plus Yield
2024-03-31 09:15:00 ET
Summary
- Global Partners LP offers high-yield investments, including preferred shares and senior notes, with attractive returns for investors.
- GLP is a major player in fuel distribution in the Northeastern US, with a strong presence in retail, wholesale, and transportation of petroleum products.
- Despite concerns about the future of fossil fuel distribution, GLP's long-term assets and earnings indicate stability and growth potential.
We've owned Global Partners LP ( GLP ) common shares since the Financial Crisis, when we were fortunate enough to be able to buy them at a vastly reduced price. If you can grit your teeth hard enough, and stay calm enough to pick up some very high yield bargains during meltdowns, it can be very rewarding.
In addition to its common units, GLP also offers 2 preferreds, but they're redeeming the floating rate A shares on April 15, 2024. Its B series preferreds are selling at $24.24, well above their $25.00 call value. It also offers Senior Notes....
Global Partners LP: 9 Straight Dividend Hikes, 6%-Plus Yield