Energy Transfer Equity Announces Seventh Consecutive Quarterly Cash Distribution Increase
July 24 2014 - 11:58AM
Business Wire
Distribution per Unit Up 16% Compared to
Same Period Last Year
Earnings Release and Earnings Call Dates
Also Announced
Energy Transfer Equity, L.P. (NYSE: ETE) today
announced that its Board of Directors has approved a $0.02125
increase in its quarterly cash distribution to $0.38 per ETE common
unit for the second quarter ended June 30, 2014, or $1.52 per unit
on an annualized basis.
Adjusting for the ETE unit split completed in January 2014, the
quarterly distribution of $0.38 per ETE common unit represents a
unit distribution increase of 16% on an annualized basis compared
to the second quarter of 2013. This also represents an annualized
distribution increase of $0.085 per common unit, or 5.9%, compared
to the first quarter of 2014 and marks the seventh consecutive
quarter that ETE has raised its distribution. The cash distribution
will be paid on August 19, 2014 to unitholders of record as of the
close of business on August 4, 2014.
ETE plans to release earnings for the second quarter 2014 on
Wednesday, August 6, 2014, after the market closes. ETE and its
subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will
conduct a joint conference call on Thursday, August 7, 2014 at 8:30
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 4, 2014Ex-Date: July 31,
2014Payment Date: August 19, 2014Amount Paid: $0.38
per common unit
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 30.8 million ETP common units, and
approximately 50.2 million ETP Class H Units, which track 50% of
the underlying economics of the general partner interest and IDRs
of Sunoco Logistics Partners L.P. (NYSE: SXL). ETE also owns the
general partner and 100% of the IDRs of Regency Energy Partners LP
(NYSE: RGP) and approximately 57.2 million RGP common 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. web site 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 currently owns and operates approximately 35,000 miles of
natural gas and natural gas liquids pipelines. ETP owns 100% of
Panhandle Eastern Pipe Line Company, LP (the successor of Southern
Union Company) and Sunoco, Inc., and a 70% interest in Lone Star
NGL LLC, a joint venture that owns and operates natural gas liquids
storage, fractionation and transportation assets. ETP also owns the
general partner, 100% of the incentive distribution rights, and
approximately 33.5 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’s general
partner is owned by ETE. For more information, visit the Energy
Transfer Partners, L.P. web site 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 Partnerships’ Annual Reports on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnerships undertake 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 Partners, L.P.’s
and 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 Partners, L.P.’s and 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.
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orMedia Relations:Granado Communications GroupVicki
Granado, 214-599-8785214-498-9272 (cell)
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