This Ultra-High-Yield Dividend Stock Continues to Add Fuel to Grow Its Already Prodigious Passive Income Stream
MPLX (NYSE: MPLX) offers investors a big-time income stream. The master limited partnership (MLP) currently has a monster distribution yield of 7.7%. That's several times higher than the S&P 500's dividend yield (less than 1.5%). The MLP has increased its payment every year since it went public in 2012 and has delivered robust 10.7% compound annual distribution growth since 2021. It has plenty of fuel to continue growing its prodigious payout in the future. That makes it an attractive option for those seeking passive income and are comfortable with the tax complications of investing in MLPs (they send a Schedule K-1 Federal Tax Form each year). Image source: Getty Images.Continue reading
MPLX (NYSE: MPLX) offers investors a big-time income stream. The master limited partnership (MLP) currently has a monster distribution yield of 7.7%. That's several times higher than the S&P 500's dividend yield (less than 1.5%).
The MLP has increased its payment every year since it went public in 2012 and has delivered robust 10.7% compound annual distribution growth since 2021. It has plenty of fuel to continue growing its prodigious payout in the future. That makes it an attractive option for those seeking passive income and are comfortable with the tax complications of investing in MLPs (they send a Schedule K-1 Federal Tax Form each year).
Image source: Getty Images.
