This 7.5%-Yielding Dividend Stock Reaches a Magnificent Milestone
Enterprise Products Partners (NYSE: EPD) reached rarified air this month. The master limited partnership (MLP) increased its quarterly distribution, marking the 25th consecutive year of growth. It's one of only a handful of energy companies to reach the quarter-century milestone.
That steady upward trend should continue. Here's why the company hasn't run out of fuel to grow its high-yielding payout.
Enterprise Products Partners recently declared its second quarter distribution, setting the payment at $0.50 per unit ($2.00 annualized). That's a 2% increase from its first-quarter payment. It's also 5.3% above what it paid during the second quarter of last year. This increase marks the company's 25th consecutive year of distribution growth, which is its entire history as a publicly traded company.
Source Fool.com
