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Following the coronavirus wreaking havoc across the global economy throughout the first half of 2020, PBF Logistics (PBFX) took the same course of action as many others and reduced their distributions by 42%. Despite this, they still offer a highly desirable distribution yield of almost 13%, and importantly, they appear well-positioned for their distributions to stage a comeback once operating conditions normalize.
Distribution Coverage
When assessing distribution coverage, I prefer to forgo using earnings per share and use free cash flow instead since distributions are paid from cash and not from "earnings". The graph