EPD - This Magnificent Dividend Stock Continues to Pump More Income Into Its Investors' Pockets
2024-07-17 06:13:00 ET
Enterprise Products Partners (NYSE: EPD) has a sparkling track record of paying dividends. The master limited partnership (MLP) has distributed the same level of cash, or more, to its investors every quarter since it has been a publicly traded company. Last year, it passed the quarter-century mark of consecutive years of increasing its cash distribution.
The pipeline company has continued that trend this year. It recently delivered its second distribution increase of 2024. With visible growth coming down the pipeline and an elite balance sheet, the MLP has plenty of fuel to continue pumping more income into its investors' pockets.
Enterprise Products Partners recently declared its latest distribution payment . The quarterly payout was nearly 2% above last quarter's level and 5% higher than the year-ago rate. That's a pretty decent growth rate for a company with a yield as high as Enterprise Products Partners, which is currently over 7%.
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This Magnificent Dividend Stock Continues to Pump More Income Into Its Investors' Pockets