Northern Tier Energy (NYSE: NTI ) has declared its first distribution for 2013. The company is to hand out $1.27 per unit, which will be paid on Feb. 28 to unitholders of record as of Feb. 21.
This is the second disbursement the company has made following its IPO last July. It paid out $1.48 per unit in November.
The new disbursement equates to a yield of 17% at the current share price of $29.50. The latter amount is more than double the company's IPO price of $14.