Oil storage and transportation master limited partnership Oiltanking Partners (NYSE:OILT) announced today its second-quarter distribution of $0.425 per share, a 5% increase over the payout made last quarter of $0.405 per share and an 18% increase over the year-ago period.
The board of directors said the quarterly dividend is payable on Aug. 14 to the holders of record at the close of business on Aug. 2. The MLP has made quarterly payouts to investors since 2011.
The regular dividend payment equates to a $1.70-per-share annual dividend, yielding 3.6% based on the closing price of Oiltanking Partners' stock on July 19.
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