This 7%-Yielding Energy Stock Just Raised Its Dividend for the 26th Year in a Row

Enterprise Products Partners (NYSE: EPD) has a knack for increasing its cash-distribution payments to investors. The master limited partnership (MLP) has given its investors a raise twice already this year and boosted its payout by 5% over the last 12 months. That continues its long history of dividend growth. This year marks its 26th consecutive year of distribution increases.

The MLP has ample fuel to continue increasing its distribution, which currently yields over 7%. That makes it an excellent option for those seeking a lucrative and steadily rising passive income stream.

Enterprise Products Partners recently paid its latest-quarterly distribution of $0.525 per unit ($2.10 annualized). That was about 2% above the prior-quarter’s level and 5% higher than the year-ago rate. The MLP has now increased its payout every year since its initial public offering (IPO) 26 years ago.

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