This Ultra-High-Yield Dividend Stock is Delivering Surprisingly Fast Growth
Dividend stocks aren't known for their ability to grow, especially those that offer a higher dividend yield. That's what makes Energy Transfer's (NYSE: ET) second-quarter results so surprising. The high-yielding master limited partnership (MLP) grew its earnings by over 23%, while its cash flow rocketed upward by 35%.
Those surging earnings have given Energy Transfer the fuel to significantly boost its already high-yielding distribution. That payout is up 50% this year and now yields more than 8%. Here's a look at what's fueling its surprisingly rapid growth.
Energy Transfer operates one of the most diversified midstream businesses in the energy sector. Most of these businesses performed well in the second quarter, contributing to its surging growth:
Source Fool.com
