Oiltanking Partners Raises Quarterly Distribution 5%
Oil storage and transportation master limited partnership Oiltanking Partnersannounced today its second-quarter distribution of $0.425 per share, a 5% increase over the payout made last quarter of $0.405 per share and an 18% increase over the year-ago period.
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. 2. The MLP has made quarterly payouts to investors since 2011.
The regular dividend payment equates to a $1.70-per-share annual dividend, yielding 3.6% based on the closing price of Oiltanking Partners' stock on July 19.
The article Oiltanking Partners Raises Quarterly Distribution 5% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.