Enterprise Products Partners is about to drop a few more coins into the pockets of its investors. The partnership has declared its latest distribution, which is to be $0.69 per common unit paid on November 7 to shareholders of record as of October 31. That amount is $0.01, or 1.5%, higher than the firm's previous payout of $0.68, which was dispensed at the beginning of August.
In the press release announcing the news, the partnership did not hesitate to mention that the upcoming disbursement will represent its 37th increase in a row, and its 46th overall since its 1998 IPO.
The new distribution annualizes to $2.76 per unit. That yields 4.5% at Enterprise's current unit price of $61.48.
The article Enterprise Products Partners Raises Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. 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.