This 6.7%-Yielding Pipeline Stock Just Raised Its Payout Again -- Here's Why There's No Stopping It Now
Its straightforward business has long been lucrative.
Overview
The energy sector is a good place to look for reliable income because many of the larger companies have strong cash flow and are shareholder-friendly. Pipeline company Energy Transfer (NYSE: ET) is no exception, consistently boasting one of the more attractive dividends on the market.
As of market close on July 30, Energy Transfer's dividend yield was 6.72%, and even more impressive, it has raised its quarterly dividend (referred to as cash distributions) for the 19th consecutive quarter. It now sits at $0.34 per share quarterly, or $1.36 annually. With a bustling pipeline (no pun intended), the momentum could be picking up steam.
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Originally published at www.fool.com.