Enterprise Products Partners (NYSE:EPD) has increased its quarterly distribution by one cent, or 1.5%. The company will hand out $0.67 for each of its common units on May 7 to unitholders of record as of April 30.
Enterprise pointed out that this constitutes the 44th dividend boost since the company's IPO, which took place in 1998. It is also said it marks the 35th consecutive quarterly increase.
The new dividend annualizes to $2.68 per share. That yields 4.4% at Enterprise's current stock price of $60.78.
The firm is scheduled to release its Q1 2013 earnings on April 30, before market open. This will be followed by a conference call with investors and analysts to discuss the results.
Fool contributor Eric Volkman has no position in Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.