This Monster 8.4%-Yielding Dividend Has Plenty of Fuel to Continue Growing

MPLX's growing expansion project backlog will drive growth for years to come.MPLX (MPLX +0.74%) recently hiked its quarterly distribution by a hefty 12.5%. That boosted its yield to an impressive 8.4%, putting it even further ahead of the S&P 500's paltry 1.1% yield. It continued the master limited partnership's (MLP) unbroken streak of distribution growth since its IPO in 2012. That's the midstream giant's second conecutive 12.5% annual increase, "reflecting conviction in our growth outlook," stated CEO Ma ...