Genesis Energy (GEL) will raise its quarterly distribution by 1.9 percent to $0.54 per unit in the fourth quarter of 2018. Last year GEL cut its distribution by 20 percent in Q4, ending a 14 year record of annual increases.

The next distribution will be paid on November 14, 2018 to holders of record at the close of business on October 31, 2018. The new annual distribution rate of $2.16 per unit for Genenis Energy yields 8.6% at a price of $24.42.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis' operations include onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics.  The company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics.