Energy Transfer Quarterly Dividend Raise: $0.3425, Dates

Updated: November 13, 2026 · Author: Jennie Chu · Reviewed by: Gemral Research Desk · Editorial Policy

Energy Transfer Quarterly Dividend Raise: $0.3425 Per Unit, Dates, Yield and Safety

Energy Transfer (NYSE: ET) raised its quarterly cash distribution to $0.3425 per unit, its twentieth increase in a row. Here are the record and pay dates, what $10,000 earns, the full recent payout history, how well cash flow covers it and how the payout is taxed.

Energy Transfer quarterly dividend raise: what was announced

On October 22, 2026, Energy Transfer LP (NYSE: ET) raised its quarterly cash distribution to $0.3425 per common unit for the third quarter ended September 30, 2026. That is $1.37 per unit on an annualized basis. It is payable on November 19, 2026, to unitholders of record at the close of business on November 6, 2026.

The new rate is up from $0.34 in the prior quarter, a small step of about 0.7%, and more than 3% above the $0.3325 paid for the third quarter of 2025. The company calls it the twentieth consecutive quarterly increase. Energy Transfer is a master limited partnership, so the payment is technically a distribution to unitholders, but most investors search for it as the Energy Transfer dividend.

The raise came with strong numbers. Third-quarter 2026 results, released on November 3, showed Adjusted EBITDA of $5.03 billion, up 31% from a year earlier, and distributable cash flow attributable to partners of $2.52 billion, up 33%. Management lifted full-year 2026 Adjusted EBITDA guidance to $19.7 billion to $19.9 billion, from $18.8 billion to $19.1 billion.

How much is the Energy Transfer dividend per share

Each common unit pays $0.3425 per quarter, or $1.37 a year at the current rate. With ET units near $19.42 at the close on November 12, 2026, that works out to a forward yield of about 7.1%, several times the yield of the S&P 500.

A $10,000 position buys about 515 units at $19.42. At $0.3425 per unit that pays about $176 per quarter, or about $705 a year, before any further raises. Management has guided to 3% to 5% annual distribution growth, so the income can rise over time, but it is not guaranteed.

If you bought after November 5, you will not receive the November 19 payment. Your first payout would be the fourth quarter distribution, expected to be declared in late January 2027. The unit price usually drops by roughly the payout amount on the ex-dividend date, so buying just before it does not create free money.

Energy Transfer dividend history: recent quarterly raises

Is the Energy Transfer dividend safe?

Coverage is the key test. In the third quarter of 2026 Energy Transfer generated about $2.52 billion of distributable cash flow and paid about $1.18 billion in distributions, so cash flow covered the payout a little more than two times. The retained cash funds growth projects and debt reduction instead of new borrowing.

The business is mostly fee-based pipelines, storage and export terminals, which makes cash flow steadier than oil and gas prices. Demand from gas-fired power plants and AI data centers is a tailwind, and in October 2026 the company agreed to buy Vaquero Midstream for about $2.6 billion in cash and units to add gathering and processing capacity.

The risks are real. Energy Transfer cut its payout by 50% in 2020, so the "twenty straight raises" run started from a reset. Earnings per unit of $0.33 for the quarter came in below the $0.41 analysts expected, the partnership carries a large debt load, and the 3% to 5% growth target can slow if commodity volumes, interest rates or project costs move the wrong way.

How Energy Transfer distributions are taxed

Because Energy Transfer is a master limited partnership, unitholders receive a Schedule K-1 each year instead of a Form 1099-DIV. A large share of each distribution is usually treated as a return of capital, which is not taxed when received but lowers your cost basis in the units.

The deferred tax comes due when you sell. Part of the gain can then be taxed as ordinary income through depreciation recapture, and the rest as a capital gain. Holding units until death can reset the basis for heirs, which is one reason income investors hold MLPs for decades.

Holding ET in an IRA or 401(k) can create unrelated business taxable income, and more than $1,000 of it in a year can trigger tax inside the account. Many unitholders also file state returns in states where the partnership operates. Talk to a tax professional before buying a large position.

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