Atlas Pipeline Raises Distribution 5%
Midstream oil and gas MLP Atlas Pipeline Partners announced yesterday its second-quarter distribution of $0.62 per unit, a 5% increase over the payout made last quarter of $0.59 per unit and up 11% year over year.
The board of directors said the quarterly dividend is payable on Aug. 14 to the holders of record at the close of business on Aug. 7. The master limited partnership has made quarterly payouts to investors since 2000. The increase this quarter marks the 11th increase in the past 12 quarters.
The regular dividend payment equates to a $2.48-per-share annual dividend, yielding 6.3% based on the closing price today of Atlas Pipeline Partners' stock.
The article Atlas Pipeline Raises Distribution 5% originally appeared on Fool.com.Fool contributor Rich Duprey 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.