Transmontaigne increases quarterly dividend 1c to 70c per share
TransMontaigne Partners L.P. announced that it declared a distribution of 70c per unit for the period from July 1, 2016 through September 30, 2016, representing a 1c increase over the previous quarter. The distribution is payable on November 7, 2016 to unitholders of record on October 31, 2016. "Over the last year, we have increased the amount paid to our common unitholders over 5%," said Fred Boutin, CEO. "This steady growth in our distribution is due to the quality of our refined product terminals and recent re-contracting success across a significant portion of our terminals. We remain committed to growth over the long-term. We expect a portion of our fee-based, and fully contracted, $75 million Collins terminal expansion to be in service before the end of the year with the balance in service early next year."