Understanding Total Shareholder Yields in MLP/Midstream Sector

This article explores the concept of total shareholder yields in the MLP/midstream sector, emphasizing the combination of dividends and buybacks for a comprehensive view of investor returns. It highlights the continued reliance on dividends as the primary capital return method, supported by stable cash flows from fee-based operations. The analysis also delves into varying buyback strategies, noting a decrease in aggregate MLP repurchases versus a surge in broader midstream buybacks, particularly driven by Cheniere.