5 Cheap Dividend Stocks with Over 6% Yield

2. Global Partners LP (NYSE:GLP)

Dividend Yield as of June 26: 10.32%
Share Price as of June 26: $23.07

Global Partners LP (NYSE:GLP) operates gasoline stations and convenience stores in Northeast America and also owns one of the largest terminal networks in New York and New England. Earlier this year, the company completed its acquisition of retail stores and convenience store assets from Consumer Petroleum Connecticut, expanding its operations in the state.

In Q1 2022, Global Partners LP (NYSE:GLP) reported a GAAP EPS of $0.76, which exceeded estimates by $0.87. The company’s revenue for the quarter stood at $4.5 billion, experiencing a 76.5% year-over-year growth. Moreover, its volume was recorded at 1.5 billion gallons, up from 1.3 billion gallons recorded during the same period last year.

On April 26, Global Partners LP (NYSE:GLP) announced a quarterly dividend of $0.595 per share, up 1.7% from the previous dividend. The stock’s dividend yield came in at 10.32%, as of June 26.

At the end of Q1 2022, 2 hedge funds in Insider Monkey’s database owned stakes in Global Partners LP (NYSE:GLP), the same as in the previous quarter. The consolidated value of these stakes is over $3.6 million.