TransMontaigne Partners (NYSE:TLP) is about to ship a bigger load of dividend to its unit holders. The company has declared a new distribution of $0.65 per unit, to be dispensed on Aug. 8 to holders of record as of July 31.That amount is $0.01, or 1.6%, higher than the company's previous payout of $0.64. It had distributed this amount in each of the preceding four quarters.
The company is a reliable dividend payer, typically raising its payout once every two to four quarters. Since early 2008, its distribution has risen steadily from $0.52 per unit to the present level.
The new disbursement annualizes to $2.60 per unit. That yields just under 6% at TransMontaigne Partners' most recent closing price of $43.46.
Fool contributor Eric Volkman has no position in TransMontaigne Partners. 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.