Energy Transfer (NYSE: ET), an energy pipeline company, announced its 19th consecutive quarterly increase in its cash dividend, raising the quarterly dividend to $0.34 per share (annualized $1.36). As of the close of trading on July 30, the company’s dividend yield stood at 6.72%.

The article notes that Energy Transfer owns approximately 140,000 miles of energy infrastructure pipelines and has a stable business model, primarily generating revenue through long-term contracts with other energy companies. Currently, the company’s order backlog continues to grow, including multiple long-term agreements with Oracle to supply natural gas to the company’s three data centers in the United States, as well as long-term agreements with Entergy Louisiana and Fermi America. Given the massive energy demand associated with AI infrastructure development (such as data centers), Energy Transfer is expected to benefit from this trend and plans to increase its dividend by 3% to 5% annually.