Buckeye Partners Raises Cash Distribution

By Eric Volkman – Aug 2, 2013 at 5:47PM

NYSE: BPL

Buckeye Partners

The partnership lifts its payout by a little more than $0.01.

On the back of strong quarterly earnings, Buckeye Partners (BPL) has decided to pump out a little more cash for some of its unitholders. The company has declared Q2 distributions for both its limited partner and its class B units. The former will take the form of a cash payout of $1.0625 per unit, while class B holders will receive additional units of that security "pursuant to Buckeye's partnership agreement." Both will be handed out on August 20 to holders of record as of August 12 The cash distribution is $0.0125, or 1%, higher than the preceding payout of $1.05 dispensed at the end of May.

The new cash distribution annualizes to $4.25 per share. That yields 5.9% at Buckeye Partners' most recent closing unit price of $71.92.

Fool contributor Eric Volkman has no position in Buckeye Partners. Nor does The Motley Fool. 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.