Genesis Energy (NYSE:GEL) unitholders will take home a bit more money in dividends compared with previous periods. The company has declared its latest disbursement, which is to be $0.51 per common unit, to be handed out on Aug. 14 to shareholders of record as of Aug. 1. That amount is a shade above Genesis Energy's previous distribution of $0.4975 per share, which was paid in mid-May.

The company's distribution has grown steadily over the years. Since August 2003, it has climbed determinedly from $0.05 per share to the present level.

The new dividend annualizes to $2.04 per share. That yields 3.8% at Genesis Energy's most recent closing stock price of $53.80.

Fool contributor Eric Volkman has no position in Genesis Energy. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.