This High-Yield Stock Is Working Hard to Keep Its Dividend Growth Engine Well Fueled [The Motley Fool]
Magellan Midstream Partners L.P. Limited Partnership (MMP)
Last magellan midstream partners l.p. limited partnership earnings: 5/1 08:00 am
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Source: The Motley Fool
This High-Yield Stock Is Working Hard to Keep Its Dividend Growth Engine Well Fueled Magellan Midstream Partners ( NYSE:MMP MLP IPO dividend investors 00 The MLP is working to ensure it can keep growing its payout in the future, which was one of the major takeaways on its third-quarter conference call Image source: Getty Images. A nice margin of safety CEO Mike Mears spent some time on the call talking about the sustainability of the company's current .8%-yielding payout. He noted that the company recently "raised our quarterly distribution to $.0 per unit, which is consistent with our plan to increase our annual distributions by % for 09." Furthermore, he noted, "With our updated 09 annual DCF (distributable cash flow) guidance of $. billion, we now expect the 09 full-year coverage ratio of . times, which results in more than $00 million of excess cash flow for the year. One of our objectives is to maintain a coverage ratio that ensures the reliability and safety of our quarterly ca
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