Energy Transfer (NYSE: ET) has become a very reliable income investment over the past few years.
The master limited partnership (MLP), which sends a Schedule K-1 Federal tax form each year, just notched its 19th consecutive quarterly dividend increase
That pay bump pushes its current yield up to 6.8%. Here’s a look at whether now’s the time to buy the high-yielding MLP for income. Built back better Energy Transfer recently declared its latest cash distribution.
The MLP is raising its quarterly payment to $0.34 per unit ($1.36 annualized), a more than 3% increase compared to the year-ago period. It will pay this distribution on Aug. 19 to unitholders of record as of the close of business on Aug. 7. That’s the 19th quarterly increase in a row.