Enterprise Declares Quarterly Distribution; Announces 31st Consecutive Quarterly Increase
April 13 2012 - 8:02AM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) announced today
that the board of directors of its general partner declared an
increase in the quarterly cash distribution rate paid to partners
to $0.6275 per common unit, or $2.51 per unit on an annualized
basis. The quarterly distribution will be paid on Wednesday, May 9,
2012, to unitholders of record as of close of business on Monday,
April 30, 2012. This distribution rate, which represents a 5.0
percent increase over the $0.5975 per unit distribution rate
declared with respect to the first quarter of 2011, is the 40th
distribution increase since EPD’s initial public offering in 1998
and the 31st consecutive quarterly increase.
Enterprise will announce its first quarter earnings on
Wednesday, May 2, 2012, before the New York Stock Exchange opens
for trading. Following the announcement, the company will host a
conference call at 9 a.m. CT with analysts and investors to discuss
first quarter earnings. The call will be broadcast live on the
Internet and may be accessed at the company’s website,
www.enterpriseproducts.com.
To listen to the webcast, participants should access the
“Investors” section of the company’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 can be
accessed one hour after the 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. The
partnership’s assets include approximately: 50,600 miles of onshore
and offshore pipelines; 190 million barrels of storage capacity for
NGLs, petrochemicals, refined products and crude oil; and 14
billion cubic feet of natural gas storage capacity. Services
include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage, and import and export terminaling; offshore production
platform services; crude oil and refined products transportation,
storage and terminaling; petrochemical transportation and storage;
and a marine transportation business that operates primarily on the
United States inland and Intracoastal Waterway systems and in the
Gulf of Mexico.
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 expects, believes or anticipates will or may occur in
the future, including anticipated benefits and other aspects of
such activities, events, developments or transactions, are
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, 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 the reports filed with the
Securities and Exchange Commission by Enterprise. 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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