Vanguard Natural declares 60-cent distribution

HOUSTON -- Vanguard Natural Resources announced a second-quarter cash distribution of 60 cents Monday.

The distribution will be paid on Aug. 14 to unit holders of record as of Aug. 7. The new distribution represents a 1.3 percent increase over the company's first-quarter distribution of 59.3 cents.

The Houston oil and gas company said it plans to release its second quarter financial results before the market opens on Aug. 2.

Vanguard shares fell 33 cents to $28.45 in afternoon trading, along with much of the energy sector.