The closely related oil and natural gas concerns LINN Energy and LinnCo are again pairing up to reward their investors. The former has declared a monthly distribution of $0.2416 per unit, to be dispensed on August 14 to holders of record as of August 12. LinnCo will hand out the same amount in the form of a monthly dividend. This will be paid one day later than LINN Energy's distribution, although the record date will be the same.
The amounts match the previous payouts of both entities. Each was distributed last month.
LINN Energy and LinnCo switched from a quarterly to a monthly payout beginning with those July distributions.
The just-declared payouts annualize to $2.90 per share. That yields 10.7% at LINN Energy's most recent closing unit price of $26.99. Those figures for LinnCo are 9.8% and $29.69, respectively.
The article LINN Energy and LinnCo Declare Fresh Payouts originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.