PSX - 5 More Reasons This 6.5%-Yielding Dividend Stock Is a Great Long-Term Buy
Plains All American Pipeline (NYSE: PAA) spent the past couple of years shoring up its financial profile by selling assets. That gave it the funds to invest in high-return expansion projects. Those moves are starting to pay dividends. Not only has the oil pipeline master limited partnership (MLP) delivered exceptional financial results this year, but it has also boosted its distribution to investors by 20%.
The company expects both trends to continue over the next few years. That was evident from the comments of CEO Willie Chiang on the second-quarter conference call. He spent some time discussing five of the company's latest expansion projects, which should fuel high-return growth in the coming years.
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