This 8.9%-Yielding Dividend Stock Is Growing Surprisingly Fast (and Just Added More Fuel to Its Tank)
MPLXMPLX(MPLX) The Motley Fool·2024-01-31 18:52

MPLX (MPLX 1.21%) recently closed the books on 2023. It was another very strong year for the master limited partnership (MLP). The energy midstream company grew its earnings and cash flow at a high-single- digit rate. That's a surprisingly fast pace for a company with such a high yield (recently around 8.9%). Its strong growth gave it the fuel to increase its payout by 10% for the second straight year. That big-time payout is on a very firm foundation. Meanwhile, the MLP has plenty of fuel to continue incre ...