Western Gas Partners, LP (WES) will raise its quarterly distribution by 1.6 percent to $0.95 per unit in the third quarter of 2018. The new yield for the MLP is 7.6% and 2018 marks the tenth consecutive year of higher distributions.
The new distribution is payable on August 13, 2018, to unitholders of record at the close of business on August 1, 2018. In the second quarter WES also hiked its distribution by 1.6 percent.
Western Gas Partners, LP is a master limited partnership formed by Anadarko Petroleum Corporation (APC) to acquire, own, develop and operate midstream energy assets. With midstream assets located in the Rocky Mountains, the Mid-Continent, North-central Pennsylvania and Texas, WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as for other producers and customers.