Enviva Partners LP (EVA) will raise its quarterly distribution to $0.53 per unit.

The quarterly distribution will be paid Tuesday, November 29, 2016, to unitholders of record as of the close of business Monday, November 14, 2016.

“Based on continued, strong operating performance and growth in our business, we have increased our distribution each quarter since our IPO,” said John Keppler, Chairman and Chief Executive Officer. “That’s a trend we expect to maintain, and one that has resulted in a more than 20% increase in per-unit distributions since this time last year.”

The new dividend yield is 7.6% at today's closing price of $28.05.

Enviva Partners, LP is a producer of wood pellets. The master limited partnership sells a significant majority of its wood pellets in the United Kingdom and Europe and owns and operates wood pellets plants in Virginia, North Carolina, Mississippi, and Florida. In addition, the Partnership owns a deep-water marine terminal at the Port of Chesapeake, Virginia, which is used to export wood pellets. Enviva Partners also exports pellets through the ports of Wilmington, North Carolina, Mobile, Alabama and Panama City, Florida.