Closely related entities LINN Energy (NASDAQ:LINE) and LinnCo (NASDAQ:LNCO) are continuing to send monthly shareholder payouts down the pipeline. The former has declared a distribution of $0.2416 per unit, to be handed out on Oct. 17 to holders of record as of Oct. 11. That amount matches each of the company's three previous monthly payouts.
LinnCo will pay a dividend in the same amount as its sibling's distribution. This is to be dispensed on Oct. 18 to shareholders of record as of Oct. 11. As with LINN Energy, that amount is in line with the firm's preceding three disbursements.
The two just-declared payouts annualize to $2.90 per share or unit. For LINN Energy, this yields 11.2% at its current unit price of $25.97. Those numbers for LinnCo are 9.9% and $29.30, respectively.
Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. 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.