The Dynamic Dividend

Magellan Lifts Distribution For 7th Straight Quarter

Magellan Midstream Partners (MMP) declared a quarterly distribution of $0.80 per unit this morning, which is a 1.9% increase over its previous payout and a 7.4% improvement over the distribution paid during the same period last year by the partnership.

The owner and operator of a vast network of petroleum pipelines has now increased its distribution 38 times since coming public just ten years ago, including raises in each of the last seven quarters.

MMP is currently trading at $62.56, where it now yields 5.12%.