Even After Its Big Dividend Cut, This Energy Stock Yields 12.5%
Until this week, EnLink Midstream (NYSE: ENLC) offered income-seeking investors a monster yield of more than 19%. However, as is often the case when dividend yields reach well into the double-digit percentages, that payout was too good to last. While the oil and gas industry service provider had solid enough financials to maintain its payout at previous levels, it opted instead to slash it by about 34% and further firm up its financial foundation.
Even with that reduction, EnLink is yielding 12.5% at current share prices. And given that this still-compelling payout is now on an even firmer foundation, EnLink should remain an intriguing option for income-seeking investors.
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Source Fool.com
