After several cuts in 1Q20 payouts, midstream dividends today seem much more durable. However, yields remain elevated relative to history given ongoing weakness in equity performance. As mentioned in Tuesday's note, we view dividend cuts as less likely for 2Q20. While still early, seven names have already announced that they are maintaining their payouts. Today's piece examines current midstream yields relative to the highs from March at the index and company level. Additionally, current yields and a stress test of those yields are compared to the payouts from other income-oriented sectors.