Challenging times for this midstream producer, but as the economy improves, the price of oil should recover. In the meantime, you can enjoy the annual dividend yield of 7.95%, paid quarterly.
Phillips 66 Partners LP (PSXP)
From Forbes Dividend Investor
Phillips 66 Partners LP engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other transportation and midstream assets. It also provides terminals and storages for oil.
Phillips 66 Partners L.P. (PSXP) benefits from stabilization in oil prices and offers a rich distribution. Keep in mind that this is a master limited partnership that will send K-1 statements, and which is subject to limitations when held in individual retirement accounts.
John Dobosz, Forbes Dividend Investor, www.newsletters.forbes.com, 212-367-3388, April 3, 2020