This Overlooked Pipeline Stock Quietly Raised Its Dividend Again. Almost Nobody Covered It. (It's Now Yielding Nearly 8%!)
This nearly 8% dividend has been increased quarterly for years.
Overview
You may not know much about Hess Midstream LP (NYSE: HESM), but if you're a fan of dividends, it's worth getting to know -- because its dividend was yielding a whopping 7.8% as of the end of August.
Hess Midstream produces and processes natural gas primarily from the Bakken and Three Forks Shale regions in North Dakota. Known, in part, as a pipeline company, it serves Hess (a wholly owned subsidiary of Chevron) and third-party customers -- and its shareholders.
Details
Its dividend is particularly impressive not only because of the size of the yield, but also because it has been increased quarterly for lots of quarters -- going back around nine years. Better still, these are not minor increases -- the quarterly dividend paid in mid-August was fully 7% higher than the year-earlier payout, and 56% higher than the dividend five years prior.
Source
Originally published at www.fool.com.