Genesis Energy Boosts Payout for 22nd Straight Quarter

Genesis Energy, L.P. (GEL) declared a quarterly distribution of $0.40 per unit today, a 3.2% increase over last quarter’s payout and an 11% improvement over the $0.36 paid during the same period last year.

Shares of GEL rose to $26.94 (+2.24%) early in today’s session, where they now yield 5.94%.

Genesis has now raised its distribution every quarter since 2005, increasing its payout by a total of 167% over that span. The ex-dividend date for the distribution announced today is January 31, 2011.

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