Alliance Resource Partners (NASDAQ:ARLP) has bumped its quarterly dividend slightly higher. For its Q1, the company will distribute $1.13 per unit on May 15 to shareholders of record as of May 8. That amount is 2% more than Alliance Resource's preceding distribution, which was handed out in early February, and totaled $1.1075. Prior to that, the partnership paid $1.085 per unit.
The company is lifting the dividend on the back of a strong quarter, which saw it beat analyst expectations on both revenues and earnings per share.
The new dividend annualizes to $4.52 per unit. That yields 6.6% at Alliance Resource's most recent closing price of $68.60.
Fool contributor Eric Volkman has no position in Alliance Resource Partners. The Motley Fool recommends Alliance Resource 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.