There aren't many small exploration and production (E&P) companies that pay a dividend, much less one that yields over 8%. Legacy Reserves LP (LGCY) pays out an impressive 8.5% dividend yield, one of the best in the E&P industry.
Legacy is an independent oil and natural gas limited partnership based in Texas. The company's properties are primarily located in the Permian Basin, Mid-Continent and Rocky Mountain regions of the United States. The primary business objective is to generate stable cash flow to make distributions to its unitholders. The plan is to increase quarterly cash distributions per unit over time by acquiring new properties and developing existing oil and natural gas fields.
Legacy's oil and natural gas production and...
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