This Phenomenal 7.4%-Yielding Dividend Stock Starts 2024 Off by Giving Investors Another Raise
Last year was a big milestone for Enterprise Products Partners (NYSE: EPD). The master limited partnership (MLP) hit the quarter-century mark for annual distribution increases. That's a phenomenal record for any company -- and even more so for one that operates in the volatile energy industry.
Enterprise Products Partners wasted no time continuing its distribution growth streak in 2024, unveiling its latest raise this week. Given its financial strength and expansion project backlog, the MLP should have plenty of fuel to continue growing its payout in the future.
Enterprise Products Partners recently declared its latest distribution. The MLP set its new quarterly rate at $0.515 per unit ($2.06 annualized). That's 3% above the prior quarter's rate and a 5.1% increase from the year-ago level.
Source Fool.com
