Enterprise Declares 45th Consecutive Quarterly Distribution Increase; Enterprise Products Company Intends to Reinvest $50 Mil...
October 01 2015 - 10:30AM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”)
announced today that the board of directors of its general partner
declared an increase in the quarterly cash distribution paid to
partners to $0.385 per common unit, or $1.54 per unit on an
annualized basis. The quarterly distribution will be paid on
Friday, November 6, 2015, to unitholders of record as of the close
of business on Friday, October 30, 2015. This distribution, which
represents a 5.5 percent increase over the distribution declared
with respect to the third quarter of 2014, is the 54th distribution
increase since Enterprise’s initial public offering in 1998 and the
45th consecutive quarterly increase.
Affiliates of privately held Enterprise Products Company
(“EPCO”), which collectively own Enterprise’s general partner and
approximately 34 percent of its outstanding limited partner
interests, have indicated to Enterprise management that they intend
to purchase $50 million of common units through Enterprise’s
distribution reinvestment plan in November 2015. This would bring
EPCO’s total investment in Enterprise common units to $200 million
for 2015.
Enterprise will announce its earnings for the third quarter of
2015 on Thursday, October 29, 2015, before the New York Stock
Exchange opens for trading. Following the announcement, the
partnership will host a conference call at 9 a.m. CT with analysts
and investors to discuss earnings. The call will be webcast live on
the Internet and may be accessed through the “Investors” section of
the partnership’s website, www.enterpriseproducts.com.
To listen to the webcast, participants should access the
partnership’s website at least 15 minutes prior to the start of the
conference call to download and install any necessary audio
software. A replay of the webcast will be available for one week
following the conference call and may be accessed one hour after
completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and import and export terminals; crude oil gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; petrochemical
transportation and services; and a marine transportation business
that operates primarily on the United States inland and
Intracoastal Waterway systems and in the Gulf of Mexico. The
partnership’s assets include approximately 49,000 miles of
pipelines; 225 million barrels of storage capacity for NGLs,
petrochemicals, refined products and crude oil; and 14 billion
cubic feet of natural gas storage capacity.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition,
and other risk factors included in Enterprise’s reports filed with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of their dates. Except as required by law, Enterprise
does not intend to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151001006231/en/
Enterprise Products Partners L.P.Randy Burkhalter, 713-381-6812
or 866-230-0745Investor RelationsorRick Rainey, 713-381-3635Media
Relations
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Feb 2024 to Mar 2024
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Mar 2023 to Mar 2024