Enterprise Declares Quarterly Distribution Increase
July 07 2016 - 9:27AM
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 $0.40 per common unit, or $1.60 per unit on an
annualized basis. This distribution rate with respect to the second
quarter of 2016 is consistent with the distribution that
Enterprise’s management planned to recommend to the board of
Enterprise’s general partner as indicated in the press release
dated January 4, 2016.
The quarterly distribution will be paid on Friday, August 5,
2016, to unitholders of record as of the close of business on
Friday, July 29, 2016. This distribution, which represents a 5.3
percent increase over the distribution declared with respect to the
second quarter of 2015, is the 57th distribution increase since
Enterprise’s initial public offering in 1998 and the 48th
consecutive quarterly increase.
Enterprise will announce its earnings for the second quarter of
2016 on Thursday, July 28, 2016, 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; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,000 miles of pipelines; 250 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat
one hundred percent (100.0%) of Enterprise’s distributions to
non-U.S. investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, Enterprise’s distributions to non-U.S. investors are
subject to federal income tax withholding at the highest applicable
effective tax rate.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160707005784/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
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