Calumet Specialty Products (NASDAQ: CLMT ) investors will soon find a few more coins in their pockets. The company announced a modest lift in its distribution, to $0.685 per unit, to be handed out on Aug. 14 to shareholders of record as of Aug. 2. That amount is $0.005, or 0.7%, higher than the firm's previous payout of $0.68, which was disbursed in May.
The new dividend annualizes to $2.74 per share. That yields 8.3% at Calumet's current unit price of $32.98.
The company also set the release date for its Q2 results. This will take place on Aug. 7 before the market opens; management will hold a conference call at 1 p.m. ET to discuss the quarter.