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.Fool contributor Eric Volkman has no position in Genesis Energy, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.