TransMontaigne Partners (NYSE: TLP ) 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.