MPLX - Supercharge Your Passive Income With These Roughly 9%-Yielding Dividend Stocks
2023-07-28 07:05:00 ET
Master limited partnerships (MLPs) have fallen out of favor with investors over the years because of their tax complexities. Instead of sending a 1099-DIV for tax purposes, MLPs send their investors a Schedule K-1, which typically arrives late in the tax filing season.
However, the extra work when filing taxes (and potential delays) can be well worth it, because many MLPs offer high-yielding distributions. Crestwood Equity Partners (NYSE: CEQP) , Energy Transfer (NYSE: ET) , and MPLX (NYSE: MPLX) all currently yield around 9%. That can turn a $1,000 investment into roughly $90 of annual passive income . In addition, all three MLPs recently declared their next distribution payment, setting investors up to start collecting income as early as next month.
Crestwood Equity Partners declared its latest quarterly distribution at $0.655 per unit ($2.62 annually) in late July. That gives the MLP a 9.1% yield at its current unit price. The company expects to make that payment to investors on Aug. 14 for those who hold units by Aug. 7.
For further details see:
Supercharge Your Passive Income With These Roughly 9%-Yielding Dividend Stocks