This Overlooked Pipeline Stock Quietly Raised Its Dividend Again. Almost Nobody Covered It. (It's Now Yielding Nearly 8%!)
Yahoo Finance ·
You may not know much about Hess Midstream LP ( HESM +0.55% ) , but if you're a fan of dividends, it's worth getting to know -- because its dividend was yielding a whopping 7.8% as of the end of August. Hess Midstream produces and processes natural gas primarily from the Bakken and Three Forks Shale regions in North Dakota. Known, in part, as a pipeline company , it serves Hess (a wholly owned subsidiary of Chevron ) and third-party customers -- and its shareholders. Its dividend is particularly impressive not only because of the size of the yield, but also because it has been increased quarterly for lots of quarters -- going back around nine years. Better still, these are not minor increases -- the quarterly dividend paid in mid-August was fully 7% higher than the year-earlier payout, and 56% higher than the dividend five years prior. That's not all -- Hess Midstream has also been buying back shares , which rewards shareholders by making each remaining share worth more. (Imagine cutting a pizza into six pieces instead of eight -- that's the effect of buying back and essentially retiring lots of shares.)
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