The board of directors of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership's quarterly cash distribution to $1.0375 per unit for the period July 1 through Sept. 30, 2021.
The third-quarter 2021 distribution is 1% higher than the $1.0275 paid for both second quarter 2021 and third quarter 2020.
The new distribution, which equates to $4.15 per unit on an annualized basis, will be paid Nov. 12 to unitholders of record at the close of business on Nov. 5.
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IMO MMP has an A+ safety rating and should have the ability to raise dividends again in 2022. It is an MLP with a current annual yield of approximately 8.4%.
Magellan Midstream Partners (MMP) Update - Oct 29
Magellan Midstream Partners (MMP) Update - Oct 29
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group