CONE Midstream Boosts Quarterly Cash Distribution

CONE Midstream Partners LP CNNX said that its Board of CONE Midstream GP LLC, the general partner, has approved the declaration of a cash distribution of $0.254 per unit with respect to the second quarter of 2016. On an annualized basis, it translated into $1.02 a share.

CONE Midstream said the distribution would be made on August 12 to its unitholders of record as August 4, 2016. The company added that the represented an increase of 3.7 percent from the prior quarter. On a year-over-year basis, the latest dividend represented an increase of 15.5 percent.

The latest dividend provided 5.9 percent yield and the dividend payout ratio was about 67.0 percent.