Shell Midstream Partners LP (NYSE: SHLX) is the seventh company in our Energy and Income Advisor coverage universe to cut its dividend in calendar 2021. The company announced a quarterly payout of 30 cents per share for payment August 13, a reduction of -34.8 percent from the previous level of 46 cents.
Management cited two basically boiler plate reasons for the cut: The need “to ensure the partnership’s near-term financial health,” and to “provide a long-term sustainable financial framework” to “allow the partnership the ability to pursue projects that build upon its diverse portfolio an enhance unitholder value.”
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In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.
Elliott and Roger on Jun. 29, 2022
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Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor