Core Insights - The article discusses extreme dividend stocks, focusing on high-yield and dividend growth categories, highlighting the potential risks and benefits associated with high dividend yields [2][4]. Dividend Stock Categories - Dividend-focused indices are categorized into dividend growth and high yield, with high-yield stocks attracting income-seeking investors but facing reinvestment challenges [2]. - S&P 500 Dividend Aristocrats, which have increased dividends for at least 25 consecutive years, show steady growth in payouts even during market downturns, offering stronger yield-on-cost over time [3]. Performance of High Yield Dividend Stocks - The S&P Sector-Neutral High Yield Dividend Aristocrats (HYDA) index balances dividend growth with higher yields, achieving better risk-adjusted returns and reducing maximum drawdown by about 5% from January 2005 to July 2023 [4]. Methodology for Stock Selection - The stock screener selected dividend stocks with yields between 6% and 14% as of November 11, focusing on companies with stable dividend histories, although many have inconsistent records due to high yields [6]. - The final list includes companies favored by hedge fund investors, ranked in ascending order based on popularity [6][7]. Company Highlights - **Sunoco LP (NYSE:SUN)**: - Dividend yield of 7.34% as of November 11, with a recent $9 billion acquisition of Parkland Corporation, creating the largest independent fuel distributor in the Americas [9][10]. - Reported Q3 2025 revenue of $6.03 billion, a nearly 5% increase year-over-year, and raised its quarterly distribution by 1.25% [11][12]. - **Western Midstream Partners, LP (NYSE:WES)**: - Dividend yield of 9.18% as of November 11, with a recent price target increase from $41 to $43 by Stifel [13][14]. - Q3 2025 results exceeded expectations, with a projected adjusted EBITDA range of $2.35 billion to $2.55 billion for 2025, including contributions from the Aris acquisition [15][16]. - **Barings BDC, Inc. (NYSE:BBDC)**: - Dividend yield of 11.66% as of November 11, with a recent price target cut to $9.50 while maintaining a Market Perform rating [17]. - Reported total investment income of $72.4 million and net investment income of $33.6 million for Q3 2025, with a quarterly dividend of $0.26 per share [18][19].

Core Viewpoint - Sunoco LP has successfully completed the acquisition of Parkland Corporation on October 31, 2025, marking a significant consolidation in the energy infrastructure and fuel distribution sector [1][7]. Group 1: Acquisition Details - Parkland shareholders will receive either C$44.00 in cash, approximately 0.536 SunocoCorp Units, or a combination of C$19.80 in cash and 0.295 SunocoCorp Units for each Parkland share held [5][6]. - The total consideration for the acquisition amounts to approximately C$3.46 billion in cash and 51.52 million SunocoCorp Units [6]. Group 2: Market Impact - Parkland shares are set to be delisted from the Toronto Stock Exchange at the close of markets on November 4, 2025, while SunocoCorp Units will begin trading on the New York Stock Exchange under the ticker symbol "SUNC" on November 6, 2025 [2]. Group 3: Company Overview - Sunoco LP operates as a leading energy infrastructure and fuel distribution master limited partnership, with operations spanning 32 countries and territories, including an extensive pipeline network of approximately 14,000 miles and over 160 terminals [3]. - The partnership distributes over 15 billion gallons of fuel annually to around 11,000 retail locations and commercial customers [3].

Core Points - Sunoco LP will release its third quarter 2025 financial and operating results on November 5, 2025, before market opens [1] - A conference call will be held on the same day at 9:00 a.m. Central Time to discuss the results [1] Company Overview - Sunoco LP is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico [4] - The Partnership's midstream operations include approximately 14,000 miles of pipeline and over 100 terminals [4] - Sunoco serves approximately 7,400 branded locations and additional independent dealers and commercial customers [4] - The general partner of Sunoco LP is owned by Energy Transfer LP [4]

Core Viewpoint - Sunoco LP has announced a private offering of 1.5 million Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units, raising gross proceeds of $1.5 billion to fund the acquisition of Parkland Corporation and related costs [1][2]. Group 1: Offering Details - The offering price for the Series A Preferred Units is set at $1,000 per unit, with the offering size increased from an initial 1 million units to 1.5 million units [1]. - The offering is expected to settle on September 18, 2025, pending customary closing conditions [1]. - The Series A Preferred Units will have a distribution rate of 7.875% per annum, paid semi-annually starting March 18, 2026 [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to fund a portion of the cash consideration for the acquisition of Parkland Corporation, alongside previously announced senior notes offerings totaling $1.9 billion [2]. - Prior to the acquisition's effective date, proceeds will also be used to reduce outstanding borrowings under Sunoco's revolving credit facility [2]. Group 3: Redemption and Terms - If the Parkland Acquisition is not completed by May 5, 2026, the Series A Preferred Units will be subject to a special mandatory redemption at $1,000 per unit plus any accumulated distributions [3]. - After the First Reset Date, distributions will be based on the Five-Year U.S. Treasury Rate plus a spread of 4.230% per annum [4]. Group 4: Company Overview - Sunoco LP operates as an energy infrastructure and fuel distribution master limited partnership across over 40 U.S. states, Puerto Rico, Europe, and Mexico, with a network of approximately 14,000 miles of pipeline and over 100 terminals [9].

Group 1 - Sunoco LP announced a private offering of 1,000,000 Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units [1] - The net proceeds from this offering will be used to fund a portion of the cash consideration for the acquisition of Parkland Corporation and related transaction costs, as well as to temporarily reduce borrowings under Sunoco's revolving credit facility [2] - The offering is not contingent on the completion of the Parkland Acquisition or the concurrent Notes Offering [2] Group 2 - If the Parkland Acquisition is not completed by May 5, 2026, the Series A Preferred Units will be subject to a special mandatory redemption at a price of $1,000 per unit plus accumulated and unpaid distributions [3] - The Series A Preferred Units have not been registered under the Securities Act and will be offered only to qualified institutional buyers and non-U.S. persons [4] - Sunoco LP operates in over 40 U.S. states and internationally, with a network of approximately 14,000 miles of pipeline and over 100 terminals for midstream operations [6]

Company Overview - Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico [4] - The Partnership's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals [4] - Sunoco serves approximately 7,400 Sunoco and partner branded locations, as well as additional independent dealers and commercial customers [4] - The general partner of Sunoco LP is owned by Energy Transfer LP (NYSE: ET) [4] Upcoming Financial Results - Sunoco LP will release its second quarter 2025 financial and operating results before the market opens on Wednesday, August 6, 2025 [1] - Management will hold a conference call on the same day at 9:00 a.m. Central Daylight Time (10:00 a.m. Eastern Daylight Time) to discuss the results [1]

Group 1 - Sunoco LP has made its 2024 Schedule K-3 available online, which includes items of international tax relevance for unitholders [1] - The 2024 Schedule K-3 for NuStar Energy Partners, L.P., which merged with Sunoco on May 3, 2024, is also accessible online [1] - Unitholders needing this information can find it in the investor relations section of the Sunoco website [1] Group 2 - A limited number of unitholders, particularly foreign unitholders and those computing a foreign tax credit, may require the detailed information on Schedule K-3 for their tax reporting [2] - Unitholders can receive an electronic copy of their 2024 Schedule K-3 via email by contacting Tax Package Support [3] - NuStar Energy L.P. unitholders can also obtain an electronic copy of Schedule K-3 by calling designated support numbers [4] Group 3 - Sunoco LP operates as a leading energy infrastructure and fuel distribution master limited partnership across over 40 U.S. states, Puerto Rico, Europe, and Mexico [5] - The partnership's midstream operations include approximately 14,000 miles of pipeline and over 100 terminals, supporting its fuel distribution operations [5] - Sunoco serves around 7,400 branded locations and additional independent dealers and commercial customers [5]

Group 1 - Sunoco LP will release its first quarter 2025 financial and operating results on May 6, 2025, before market opens [1] - A conference call to discuss the results will be held on the same day at 9:00 a.m. Central Daylight Time [1] - Sunoco LP operates in over 40 U.S. states, Puerto Rico, Europe, and Mexico, with a significant midstream infrastructure [2] Group 2 - The Partnership has approximately 14,000 miles of pipeline and over 100 terminals, supporting its fuel distribution operations [2] - Sunoco serves around 7,400 branded locations and additional independent dealers and commercial customers [2] - The general partner of Sunoco LP is owned by Energy Transfer LP [2]