Usually, when a company has a dividend yield of as high as 9.1%, there could be some concerns about its dividend safety. This is because, if the company is solid, yield-seeking investors would rush to buy it, bidding up its price and lowering its yield. So, when a stock’s yield stays at an elevated level, it could be a sign of trouble. Today’s high-dividend stock, however, is an exception.
I’m talking about Buckeye Partners, L.P. (NYSE:BPL), a master limited partnership (MLP) headquartered in Houston, Texas. With a quarterly distribution rate of $1.2625 per common unit, Buckeye is truly a high-dividend stock, with a 9.1% yield. Compared to the other high-yield stocks, Buckeye is a special one, due to its dividend safety. Since the partnership’s initial public offering (IPO) in 1986, Buckeye has paid a cash distribution every single quarter. Furthermore, the partnership managed to pay, not only a steady dividend, but an increasing one.
Source: Income Investors
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