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TransMontaigne Partners Lifts Dividend

Tuesday - 7/16/2013, 4:14am  ET

TransMontaigne Partners is about to ship a bigger load of dividend to its unit holders. The company has declared a new distribution of $0.65 per unit, to be dispensed on Aug. 8 to holders of record as of July 31.That amount is $0.01, or 1.6%, higher than the company's previous payout of $0.64. It had distributed this amount in each of the preceding four quarters.

The company is a reliable dividend payer, typically raising its payout once every two to four quarters. Since early 2008, its distribution has risen steadily from $0.52 per unit to the present level.

The new disbursement annualizes to $2.60 per unit. That yields just under 6% at TransMontaigne Partners' most recent closing price of $43.46.

This article was originally published as TransMontaigne Partners Lifts Dividendon Fool.com

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