Genesis Lifts Distribution for 26th Straight Quarter
Genesis Energy (GEL) declared a quarterly distribution of $0.44 per unit this morning, which is a 2.9% increase over its previous payout and a 10.0% improvement over its distribution during the same period last year. The diversified energy partnership has now raised its distribution for 26 consecutive quarters.
GEL closed Tuesday’s session trading at $28.90, where it now yields 6.09%.
Genesis has raised its distribution every quarter since late 2005, increasing its payout by a total of 193% during the streak.
READ MORE ABOUT: GELSTAY UPDATED VIA: Twitter, StockTwits, RSS, E-Mail