The Dynamic Dividend

Duncan, Enterprise Hike Distributions Ahead of Merger

Enterprise Products Partners (EPD) and Duncan Energy Partners (DEP) each declared increased distributions this morning, extending their stellar payout growth records ahead of a proposed merger of the two partnerships.

Enterprise declared a quarterly distribution of $0.605 per unit, which is a 1.3% increase over its prior payout and a 5.2% improvement over its distribution from the same period last year. This marks the 28th consecutive quarter the partnership has raised its payout. EPD opened Friday’s session trading at $43.05, where they now yield 5.62%.

Duncan declared a quarterly distribution of $0.46 per unit, a 0.6% increase over its previous payout and a 2.2% improvement over its distribution from the same period last year. This is the 11th straight quarter Duncan has increased its payout. DEP opened Friday’s session trading at $43.22, where it now yields 4.26%.

The proposed merger was originally announced back in April, and still requires majority approval from Duncan unitholders.