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This Elite Ultra-High-Yielding Dividend Stock Adds $3.1 Billion in Additional Fuel to Its Growth Engine

TheMotleyFool 
0 0 02.11.23
This Elite Ultra-High-Yielding Dividend Stock Adds $3.1 Billion in Additional Fuel to Its Growth Engine: https://g.foolcdn.com/editorial/images/753081/a-person-at-a-computer-with-financial-charts-on-a-desk-overlaid-by-an-upward-pointing-arrow.jpg
 

Enterprise Products Partners (NYSE: EPD) is an elite dividend stock. The midstream giant delivered its 25th straight year of increasing its distribution in 2023. It has grown its payout by 5.3% over the past year, helping push its yield up to its current level of 7.7%.

The master limited partnership (MLP) has plenty of fuel to continue growing its payout. It recently secured $3.1 billion in new expansion projects. These investments will boost its cash flow as they come online in 2025. That should support the continued steady rise in its big-time distribution.

Enterprise Products Partners recently unveiled a slew of new capital projects to support continued production growth in the Permian Basin. It's building four new projects and converting an oil pipeline back to supporting natural gas liquids (NGLs). These projects include:

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Source Fool.com

Enterprise Metals Ltd Stock

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