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Tallgrass Energy Partners Boosts Dividend

Tallgrass Energy Partners (NYSE: TEP  ) has announced plans to increase its quarterly dividend payout 3.5%. The latest payable amount is $0.2975 per share. 

The next quarterly distribution will be paid on Nov. 13 to Tallgrass shareholders of record as of Nov. 1. Annually, Tallgrass Energy's dividend adds to $1.19 per share. As of the market's close on Oct. 7, the midstream energy company's stock was trading at $23.33, which means it currently has a dividend yield of 5.1%.

Editor's note: A previous version of this article failed to take into account that the dividend paid in August was pro-rated and thus the previous version of this article overstated the dividend increase.

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  • Report this Comment On October 16, 2013, at 9:36 AM, XMFAimeeD wrote:

    FYI - the first dividend was prorated because the partnership only went public in May. It's really a 3.5% increase, quarter over quarter.

    Aimee

  • Report this Comment On October 17, 2013, at 2:54 PM, TMFKris wrote:

    Thank you, TMFAimeeD for your sharp eye. We have corrected the error in the story.

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Tallgrass Energy P… CAPS Rating: **