It seems to be on somewhat of a slide lately.
We do not see any recent news for KEG.UN except that it declared a distribution of $0.0946 per unit, which is in line with previous distributions. Many high-dividend stocks or even 'defensive' names such as utilities and consumer staples companies have seen a sharp decline recently as investors begin to shift their investment thinking from owning high-yielding defensive names to high-yielding cash or fixed-income instruments. With fears of higher rates for longer or a potential recession, investors are beginning to weigh the risk/rewards of high-dividend stocks against high-interest savings ETFs.
KEG.UN now has a solid distribution yield of 8.7%, and free cash flow has grown nicely and is more than enough to service its distributions. It's a smaller name, but is basically a 'cheque-cashing' company. We are comfortable with KEG.UN for income, but it does have economic sensitivity and so any material changes in consumer behaviour can affect its sales and profits.