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This Nearly 10%-Yielding Dividend Stock Is on Solid Ground for 2021

TheMotleyFool

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This Nearly 10%-Yielding Dividend Stock Is on Solid Ground for 2021

Last year was a tough one for the oil market. Demand for refined products plunged as governments shut down their economies to slow the spread of the COVID-19 outbreak. That market turbulence impacted the operations of MLP Magellan Midstream Partners (NYSE: MMP), which focuses on oil and refined products.

However, thanks to its business model's overall stability and its top-tier balance sheet, Magellan was able to maintain its distribution, which currently yields 9.9%. Meanwhile, with market conditions expected to improve this year, the MLP anticipates maintaining its current payout level again in 2021.

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Source Fool.com

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