The Dynamic Dividend

Enterprise Lifts Distribution for 30th Straight Quarter

Enterprise Products Partners (EPD) declared a quarterly distribution of $0.62 per unit this morning, which is a 1.2% increase over its prior payout and a 5.1% improvement over the distribution paid during the same period last year by the midstream energy partnership.

This marks the 30th consecutive quarter Enterprise has given its unitholders a raise, and its 39th distribution hike since coming public in 1998. Last year the partnership strengthened its distribution power by completing a merger with Duncan Energy Partners, which had raised its payout in each of the eleven quarters leading up to the transaction.

EPD closed last week trading at $46.89, where it now features a 5.29% yield.