The closely related oil and natural gas concerns LINN Energy (NASDAQOTH:LINEQ) and LinnCo (UNKNOWN:LNCO.DL) are again pairing up to reward their investors. The former has declared a monthly distribution of $0.2416 per unit, to be dispensed on August 14 to holders of record as of August 12. LinnCo will hand out the same amount in the form of a monthly dividend. This will be paid one day later than LINN Energy's distribution, although the record date will be the same.
The amounts match the previous payouts of both entities. Each was distributed last month.
LINN Energy and LinnCo switched from a quarterly to a monthly payout beginning with those July distributions.
The just-declared payouts annualize to $2.90 per share. That yields 10.7% at LINN Energy's most recent closing unit price of $26.99. Those figures for LinnCo are 9.8% and $29.69, respectively.