Genesis Energy Raises Distribution
Genesis Energy is lengthening its streak of unit holder payout increases. The company has declared its latest distribution, which is to be $0.5225 per unit paid on November 14 to shareholders of record as of November 1. That amount is $0.025, or 5%, higher than the preceding disbursement of $0.4975, which was paid in August. It is 11% higher than the $0.4725 handed out in November 2012.
Genesis Energy, which operates as a master limited partnership, has now raised its distribution for 33 quarters in a row. Of those payouts, 28 have represented an increase of more than 10% on a year-over-year basis.
The new distribution annualizes to $2.09 per unit. That yields 4.3% at Genesis Energy's current unit price of $48.99.
The article Genesis Energy Raises Distribution originally appeared on Fool.com.
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