Targa Resources Partners LP Announces Monthly Distribution on Preferred Units
May 17 2017 - 4:15PM
Targa Resources Partners LP (“Targa Resources Partners” or the
“Partnership”) (NYSE:NGLS PRA) announced its monthly distribution
on the Partnership’s 9.00% Series A Fixed-to-Floating Rate
Cumulative Redeemable Perpetual Preferred Units ("Series A
Preferred Units") for May 2017.
Targa Resources Partners LP announced today that
the board of directors of its general partner has declared a
monthly cash distribution of 18.75¢ per Series A Preferred Unit, or
$2.25 per Series A Preferred Unit on an annualized basis, for May
2017. This cash distribution will be paid June 15, 2017 on all
outstanding Series A Preferred Units to holders of record as of the
close of business on May 31, 2017.
About Targa Resources Partners
LP
Targa Resources Partners LP is a Delaware
limited partnership formed in October 2006 by its parent, Targa
Resources Corp. (“TRC” or the “Company”), to own, operate, acquire
and develop a diversified portfolio of complementary midstream
energy assets. On February 17, 2016 TRC completed the acquisition
of all outstanding common units of the Partnership. Targa Resources
Corp. is a leading provider of midstream services and is one of the
largest independent midstream energy companies in North America.
TRC owns, operates, acquires, and develops a diversified portfolio
of complementary midstream energy assets. The Company is primarily
engaged in the business of: gathering, compressing, treating,
processing, and selling natural gas; storing, fractionating,
treating, transporting, and selling NGLs and NGL products,
including services to LPG exporters; gathering, storing, and
terminaling crude oil; storing, terminaling, and selling refined
petroleum products.
The principal executive offices of Targa
Resources Partners LP are located at 1000 Louisiana, Suite 4300,
Houston, TX 77002 and their telephone number is 713-584-1000.
For more information please go to
www.targaresources.com.
Forward-Looking Statements
Certain statements in this release are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this release that
address activities, events or developments that the Partnership
expects, believes or anticipates will or may occur in the future,
are forward-looking statements. These forward-looking statements
rely on a number of assumptions concerning future events and are
subject to a number of uncertainties, factors and risks, many of
which are outside the Partnership’s control, which could cause
results to differ materially from those expected by management of
the Partnership. Such risks and uncertainties include, but are not
limited to, weather, political, economic and market conditions,
including a decline in the price and market demand for natural gas,
natural gas liquids and crude oil, the timing and success of
business development efforts; and other uncertainties. These and
other applicable uncertainties, factors and risks are described
more fully in the Partnership's filings with the Securities and
Exchange Commission, including its Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The
Partnership does not undertake an obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
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 Targa Resources
Partners LP’s distributions to foreign investors as being
attributable to income that is effectively connected with a United
States trade or business. Accordingly, Targa Resources Partners
LP’s distributions to foreign investors are subject to federal
income tax withholding at the highest applicable effective tax
rate.
Investor contact:
713-584-1133
Sanjay Lad
Director – Investor Relations
Jennifer Kneale
Vice President - Finance
Targa Resources (NYSE:TRGP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Targa Resources (NYSE:TRGP)
Historical Stock Chart
From Apr 2023 to Apr 2024