LINN Energy and LinnCo Announce September Distribution

Oil and gas MLP LINN Energy (NASDAQ: LINE  ) announced yesterday its monthly distribution of $0.2416 per unit, the same rate it's paid for the past two months after switching to a monthly payout scheme. The distribution is payable Sept. 13 to unitholders of record at the close of business on Sept. 10.

The board of directors also announced that LinnCo (NASDAQ: LNCO  ) declared a monthly dividend of $0.2416 per share payable on Sept. 16 to holders of record on Sept. 10. LinnCo has no operations or assets and was created for the sole purpose of owning shares of LINN Energy so that it can receive distributions from the MLP and convert them into regular dividends.

The distribution and dividend payments both equate to a $2.90-per-unit and share annual payout, respectively, yielding 12% for LINN Energy unitholders based on the closing price on Aug. 30, and yielding 10.5% for LinnCo shareholders.

Editor's note: A chart that included Linn Energy's quarterly and monthly payouts has been removed from this article.

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  • Report this Comment On September 03, 2013, at 1:20 PM, djphaake wrote:

    You need to update your chart, the drop in dividend is misleading, the company went from a Quarterly Dividend to a Monthly Dividend, it is actually up a little.

  • Report this Comment On September 04, 2013, at 3:39 PM, Invest575 wrote:

    To include a "chart" with quarterly and monthly dividends treated the same is not only misleading, it is extremely irresponsible.

  • Report this Comment On September 04, 2013, at 6:01 PM, TMFCop wrote:

    Hey, thanks for keeping an eye on things here. Although I mentioned in the article itself that there had been a switch from a quarterly to a monthly payout schedule, you're right it's confusing so we've pulled the chart. Thanks again!

    Rich

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