Genesis Energy (GEL) will raise its quarterly distribution by 1.9 percent to $0.55 per unit in the first quarter of 2019. Last year GEL raised its distribution by a total of 8.0 percent, following a 28.6 percent cut in 2017.

The next distribution will be paid on February 14, 2019 to holders of record at the close of business on January 31, 2019.

A new annualized distribution rate of $2.20 per unit yields an estimated 10.2 percent at a stock/unit price of $20.95 for GEL.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas.  Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation (formerly known as supply and logistics). Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.