Genesis Energy Raises Dividend

Genesis Energy Raises Dividend

Genesis Energy unitholders will take home a bit more money in dividends compared with previous periods. The company has declared its latest disbursement, which is to be $0.51 per common unit, to be handed out on Aug. 14 to shareholders of record as of Aug. 1. That amount is a shade above Genesis Energy's previous distribution of $0.4975 per share, which was paid in mid-May.

The company's distribution has grown steadily over the years. Since August 2003, it has climbed determinedly from $0.05 per share to the present level.

The new dividend annualizes to $2.04 per share. That yields 3.8% at Genesis Energy's most recent closing stock price of $53.80.

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