5 Best MLP Dividend Stocks to Buy

2. CrossAmerica Partners LP (NYSE:CAPL)

Dividend Yield as of October 17: 11.04%

CrossAmerica Partners LP (NYSE:CAPL) is an American MLP that distributes branded petroleum for motor vehicles in the country. In Q2 2022, the company reported strong results and a solid cash position. Its distributable cash flow for the quarter stood at $32.4 million, compared with $25 million in the prior-year quarter. The company’s revenue of $1.48 billion showed a 72.2% year-over-year growth. At the end of June, it had $3.5 million in cash and cash equivalents and $135.4 million in total current assets.

CrossAmerica Partners LP (NYSE:CAPL) has paid regular dividends to shareholders since 2015. The company does not have a dividend growth streak but its payments remained consistent even during the pandemic. It currently pays a quarterly dividend of $0.525 per share, with a dividend yield of 11.04%, as of October 17.

At the end of Q2 2022, Citadel Investment Group was the only hedge fund holding stakes in CrossAmerica Partners LP (NYSE:CAPL), with a total value of $228,000.