This Already 7.7%-Yielding Dividend Is Going Even Higher in the Future
Enterprise Products Partners (NYSE: EPD) has steadily grown its distribution. This year will be the master limited partnership's (MLP) 25th year of increasing its payout. It currently yields an attractive 7.7%.
The midstream company expects the payout to continue heading higher. That was evident in its management team's comments on the first-quarter conference call. While they didn't commit to a specific growth target, they've grown the distribution faster in recent years, which likely continues.
Randy Fowler, Enterprise Products Partners' CFO and co-CEO, discussed the distribution on the quarterly call. He pointed out that the company recently declared its quarterly distribution, which was 5.4% above the payment in the prior year period. Fowler also said that the MLP "will evaluate another increase midyear."
Source Fool.com