The dividends are continuing to flow at the closely related companies Targa Resources (NYSE:TRGP) and Targa Resources Partners (UNKNOWN:NGLS.DL). Q2 distributions for both have been declared; the former will hand out $0.5325 per share on Aug. 15 to shareholders of record as of July 29, while Targa Resources Partners is to dispense $0.7150 per unit on Aug. 14 to holders of record as of July 29.

Both payouts represent increases over the previous quarter's distributions. For Q1, Targa Resources paid $0.495, making its just-declared dividend 7.6% higher. Those numbers for Partners are $0.6975 and 2.5%, respectively.

Targa Resources' new distribution annualizes to $2.13 per share. That yields 3.2% at the stock's most recent closing price of $67.28. Partners' figures are a respective $2.86, 5.4%, and $52.59. 

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