The midstream energy firm extends its 54-quarter streak of dividend increases with a third hike this year.
Delek Logistics Partners increased its quarterly dividend by half a cent to $1.135 per share, marking its third raise in 2024 and 54th consecutive quarterly increase. The move reflects a broader trend of steady payout growth in the midstream energy sector, where incremental hikes accumulate over time for investors.
The company’s annual dividend now stands at $4.54 per share, a notable yield for income-focused shareholders. Analysts anticipate another increase in October, maintaining the firm’s reliable distribution cadence. However, a recent 4 million-share offering may temporarily weigh on investor sentiment.
Midstream stocks have gained attention for their consistent dividend policies, offering stability amid market volatility. Delek Logistics’ latest raise underscores its commitment to shareholder returns, though near-term dilution risks warrant monitoring.