The free dividend tracker to help you grow your wealth. Link your brokerage accounts and MerryDiv automatically syncs your holdings and dividends.
Data last updated: Sep 06, 2026
Snapshot (as of Sep 06, 2026): Magellan Midstream Partners, L.P. (MMP) pays a $4.44 annual dividend, yielding 6.43% at $69.00/share. Next ex-dividend date 2023-09-20. 9 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 6.43%
Annual Dividend: $4.44 per share
Payout Ratio: 83.9%
Ex-Dividend Date: 2023-09-20
Sector: Energy
Years of Dividend History: 23
Magellan Midstream Partners, L.P. dividend income comes from one of the largest refined petroleum pipeline networks in the United States, spanning 9,800 miles and serving customers from retail gas stations to commercial airports. The current yield stands at 6.43%, with a trailing annual dividend rate of $4.4374 per share. The ex-dividend date is September 20, 2023. MMP stock, with a beta of 0.91, moves closely with the broader market, making it a fit for income-focused investors who want energy infrastructure exposure without extreme price swings.
Magellan Midstream Partners, L.P. pays out 83.9% of earnings as dividends, a payout ratio classified as high (above 75%). That level is supported by the company's role as a logistics provider for essential fuels, including gasoline, diesel, and aviation fuel, moving through a 9,800-mile pipeline system that serves a broad and recurring customer base. Magellan Midstream Partners, L.P. dividend safety faces pressure from that elevated payout, which leaves limited room to absorb earnings shortfalls without affecting the distribution.
Over the past 15 years, Magellan Midstream Partners, L.P. dividend history shows a CAGR of 3.5% per year from 2007 to 2022. The per-share annual dividend grew from $2.4926 to $4.1615 over that window (2023 data is a partial year and excluded from this calculation). The largest annual increase in the window was 16.4% in 2015, while the data also contains at least one year-over-year decline exceeding 5%, showing the growth path was not linear. Nine consecutive years of dividend increases mark the current streak.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | -6.2% | $4.11 (2020) | $3.39 (2023) |
| 5-Year | -2.2% | $3.79 (2018) | $3.39 (2023) |
| 10-Year | +4.9% | $2.10 (2013) | $3.39 (2023) |
MMP stock fits income-focused investors who prioritize yield over growth. At 6.43%, the current yield sits above the 5-year average of 5.64%, which means buyers today are locking in a historically elevated income rate from a company that moves gasoline, diesel, and aviation fuel through a 9,800-mile pipeline network. Growth is slow, averaging 3.5% per year over 15 years, and the high (above 4%) yield comes paired with an 83.9% payout ratio that leaves little cushion. The trade-off is straightforward: meaningful current income from essential energy infrastructure, with limited dividend growth and a payout that has little room to absorb earnings pressure.
| Payment Date | Amount per Share |
|---|---|
| 2023-09-20 | $0.2474 |
| 2023-08-04 | $1.0475 |
| 2023-05-05 | $1.0475 |
| 2023-02-06 | $1.0480 |
| 2022-11-04 | $1.0480 |
| 2022-08-04 | $1.0380 |
| 2022-04-29 | $1.0380 |
| 2022-02-04 | $1.0375 |
| 2021-11-04 | $1.0380 |
| 2021-08-05 | $1.0280 |
| Year | Total Dividends |
|---|---|
| 2023 | $3.3904 |
| 2022 | $4.1615 |
| 2021 | $4.1210 |
| 2020 | $4.1100 |
| 2019 | $4.0350 |
Project income from MMP with the MMP dividend calculator or track your full portfolio with the dividend tracker.