Energy Transfer Equity Announces Eleventh Consecutive Quarterly Cash Distribution Increase
July 23 2015 - 4:15PM
Business Wire
Increases Quarterly Distribution to $0.53
per Unit on a Pre-Split Basis ($0.265 per Unit on a Post-Split
Basis)
Distribution per Unit up over 39% Compared
to Same Period Last Year
Earnings Release and Earnings Call Dates
Also Announced
Energy Transfer Equity, L.P. (NYSE: ETE) (“ETE” or
“Partnership”) today announced a $0.04 increase in its quarterly
cash distribution to $0.53 per ETE common unit on a pre-split basis
($0.02 per ETE common unit to $0.265 on a post-split basis) for the
second quarter ended June 30, 2015. Annualized, the increase
equates to $2.12 per ETE common unit on a pre-split basis and $1.06
per ETE Common unit on a post-split basis.
ETE previously announced a two-for-one split (“Unit Split”) of
the Partnership’s common units that is scheduled to be completed
tomorrow. As a result of the Unit Split, the number of outstanding
ETE common units will double. Therefore, the increase in the
quarterly distribution will be $0.02 to $0.265 per ETE common unit
on a post-split basis. Since the record date for distributions is
after the completion of the Unit Split, ETE unitholders will be
paid the quarterly distribution on a post-split basis.
The pre-split quarterly distribution of $0.53 per ETE common
unit represents an increase of more than 39% on an annualized basis
compared to the second quarter of 2014 and an increase of $0.16 per
ETE common unit, or 8.2%, compared to the first quarter of 2015.
Adjusting for the Unit Split, this marks the eleventh consecutive
quarter that ETE has raised its distribution. The cash distribution
will be paid on August 19, 2015, to unitholders of record as of the
close of business on August 6, 2015.
ETE plans to release earnings for the second quarter of 2015 on
Wednesday, August 5, 2015, after the market closes. ETE and its
subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will
conduct a joint conference call on Thursday, August 6, 2015, at
8:00 a.m. Central Time to discuss quarterly results. During the
scheduled time of the conference call, a live webcast will be
available on Energy Transfer’s web site at www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web
site for a limited time.
The following information applies to ETE’s quarterly
distribution announcement:
Record Date:
August 6, 2015
Ex-Date:
August 4, 2015
Payment Date:
August 19, 2015
Amount Paid:
$0.265 per common unit (post-split basis)
Energy Transfer Equity, L.P. (NYSE:ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE: ETP), approximately 23.6 million ETP common units,
approximately 81.0 million ETP Class H Units, which track 90% of
the underlying economics of the general partner interest and IDRs
of Sunoco Logistics Partners L.P. (NYSE: SXL), and 100 ETP Class I
Units. On a consolidated basis, ETE’s family of companies owns and
operates approximately 71,000 miles of natural gas, natural gas
liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. website at
www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master
limited partnership owning and operating one of the largest and
most diversified portfolios of energy assets in the United States.
ETP’s subsidiaries include Panhandle Eastern Pipe Line Company, LP
(the successor of Southern Union Company) and Lone Star NGL LLC,
which owns and operates natural gas liquids storage, fractionation
and transportation assets. In total, ETP currently owns and
operates more than 62,000 miles of natural gas and natural gas
liquids pipelines. ETP also owns the general partner, 100% of the
incentive distribution rights, and approximately 67.1 million
common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which
operates a geographically diverse portfolio of crude oil and
refined products pipelines, terminalling and crude oil acquisition
and marketing assets. ETP owns 100% of Sunoco, Inc. and 100% of
Susser Holdings Corporation. Additionally, ETP owns the general
partner, 100% of the incentive distribution rights and
approximately 44% of the limited partner interests in Sunoco LP
(formerly Susser Petroleum Partners LP) (NYSE: SUN), a wholesale
fuel distributor and convenience store operator. ETP’s general
partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For
more information, visit the Energy Transfer Partners, L.P. website
at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in the Partnership’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
This release serves as qualified notice to nominees as provided
for under Treasury Regulation section 1.1446-4(b)(4) and (d).
Please note that 100 percent of Energy Transfer Equity, L.P.’s
distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of Energy Transfer Equity, L.P.’s distributions to
foreign investors are subject to federal tax withholding at the
highest applicable effective tax rate. Nominees are treated as
withholding agents responsible for withholding distributions
received by them on behalf of foreign investors.
The information contained in this press release is available on
our web site at www.energytransfer.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150723006546/en/
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orLyndsay Hannah, 214-840-5477orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785214-498-9272
(cell)
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