Targa Resources Announces Dividend Boosts

Before you go, we thought you'd like these...
Before you go close icon

The closely related energy firms Targa Resources and Targa Resources Partners are teaming up to return more money to shareholders. Both companies have raised the stockholder payouts for their respective Q1s. For the quarter, Resources will dispense a dividend of $0.4950 per share of its common stock on May 16 to shareholders of record as of April 29. Partners will pay $0.6975 per common unit, to be distributed May 15 to unitholders as of April 29.

The two fresh payouts represent increases of 8% and 3%, respectively, on the previous distributions handed out by the twin Targas. 

Resources' new dividend annualizes to $1.98 per share. That yields just under 3% at the firm's current stock price of $66.88. For Partners, those figures are $2.79, 5.9%, and $47.06, respectively.

The article Targa Resources Announces Dividend Boosts originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners