TransMontaigne Partners (TLP) Raises Quarterly Dividend 2.1% to $0.725; 6.5% Yield

TransMontaigne Partners (NYSE: TLP) declared a quarterly dividend of $0.725 per share, or $2.90 annualized. This is a 2.1% increase from the prior dividend of $0.71.

The dividend will be payable on May 8, 2017, to stockholders of record on April 28, 2017, with an ex-dividend date of April 26, 2017.

The annual yield on the dividend is 6.5 percent.

"This distribution, for the first quarter of 2017, is our sixth consecutive increase. It reflects a 2.1% increase over the previous quarter and a 6.6% increase over the distribution paid for the first quarter of 2016," said Fred Boutin, Chief Executive Officer of TransMontaigne Partners. "This accelerated rate of distribution growth was supported by the recent completion of a portion of our Collins Phase I expansion project, in which we placed 1.2 million barrels of new contracted storage into service. We remain on schedule to bring online the remaining 0.8 million barrels of contracted storage capacity in various stages through the end of the second quarter of 2017."

For a dividend history and other dividend-related data on TransMontaigne Partners (TLP) click here.

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