Westlake Chemical Partners LP
WLKPBasic Materials · Stock · quarterly payer
Forward Yield
8.57%
Annual Dividend
$1.89
Payout Ratio
115%
5-Yr Growth
0.0%
Ex-Date
May 14, 2026
Frequency
Quarterly
Summary
As of July 2026, Westlake Chemical Partners LP (WLKP) yields 8.57% ($1.89 per share annually), with a blended fair-value estimate of $61.74 — +180% upside, so it screens as undervalued. Dividend safety grade: A (81/100).
Is WLKP a good dividend stock?
YesWestlake Chemical Partners LP (WLKP) pays a quarterly dividend yielding 8.57% ($1.89/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Never cut its dividend on record
- Top-tier dividend safety score
Risks
- Elevated payout ratio (115%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 8.57%
- Payout Ratio
- 115%
- Annual Dividend
- $1.89
- 5-Yr Avg Growth
- 0.0%
- Ex-Dividend Date
- May 14, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.50
- Market Cap
- $775.4M
- P/E Ratio
- 13.4
- 5-Yr Total Return
- -15%
- 52-Week Range
- $17.75 – $23.88
- Dividend Safety
- A · 81/100
- Ever Cut?
- No
Frequently Asked Questions
WLKP Price — Last 12 Months
Daily close
Price Return
1 Year
-0%
3 Years
-4%
5 Years
-15%
52-Week Range
$17.75 – $23.88
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is WLKP worth?
Undervaluedlow confidenceOur blended fair-value estimate for Westlake Chemical Partners LP is $61.74 per share, versus a market price of $22.01. That implies 180% of upside — a margin of safety of about 64%.
Fair Value
$61.74
Current Price
$22.01
Upside
+180%
Margin of Safety
64%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $1.64 EPS, $1.89 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
WLKP Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 14, 2026 | — | $0.4710 | regular |
| Feb 6, 2026 | — | $0.4710 | regular |
| Nov 10, 2025 | — | $0.4710 | regular |
| Aug 12, 2025 | — | $0.4710 | regular |
| May 13, 2025 | — | $0.4710 | regular |
| Feb 7, 2025 | — | $0.4710 | regular |
| Nov 12, 2024 | — | $0.4710 | regular |
| Aug 12, 2024 | — | $0.4710 | regular |
| May 10, 2024 | — | $0.4710 | regular |
| Feb 1, 2024 | — | $0.4710 | regular |
| Nov 9, 2023 | — | $0.4710 | regular |
| Aug 10, 2023 | — | $0.4710 | regular |
| May 11, 2023 | — | $0.4710 | regular |
| Feb 1, 2023 | — | $0.4710 | regular |
Income Calculator
At $1.89 / yr per share
