LINN Energy and LinnCo Announce September Distribution

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Oil and gas MLP LINN Energyannounced yesterday its monthly distribution of $0.2416 per unit, the same rate it's paid for the past two months after switching to a monthly payout scheme. The distribution is payable Sept. 13 to unitholders of record at the close of business on Sept. 10.

The board of directors also announced that LinnCo declared a monthly dividend of $0.2416 per share payable on Sept. 16 to holders of record on Sept. 10. LinnCo has no operations or assets and was created for the sole purpose of owning shares of LINN Energy so that it can receive distributions from the MLP and convert them into regular dividends.

The distribution and dividend payments both equate to a $2.90-per-unit and share annual payout, respectively, yielding 12% for LINN Energy unitholders based on the closing price on Aug. 30, and yielding 10.5% for LinnCo shareholders.


Editor's note: A chart that included Linn Energy's quarterly and monthly payouts has been removed from this article.

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The article LINN Energy and LinnCo Announce September Distribution 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.

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