Alliance Resource Partners (ARLP 0.47%) has bumped its quarterly dividend slightly higher. For its Q1, the company will distribute $1.13 per unit on May 15 to shareholders of record as of May 8. That amount is 2% more than Alliance Resource's preceding distribution, which was handed out in early February, and totaled $1.1075. Prior to that, the partnership paid $1.085 per unit.
The company is lifting the dividend on the back of a strong quarter, which saw it beat analyst expectations on both revenues and earnings per share.
The new dividend annualizes to $4.52 per unit. That yields 6.6% at Alliance Resource's most recent closing price of $68.60.
