Crosstex Announces Continued Consecutive Increase in Dividends and Distributions
January 24 2006 - 8:10AM
PR Newswire (US)
DALLAS, Jan. 24 /PRNewswire-FirstCall/ -- The Crosstex Energy
companies, Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership)
and Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation), today
announced the eleventh consecutive increase in quarterly
distributions and the seventh consecutive increase in quarterly
dividends: * Quarterly distributions on the Partnership's common
and subordinated units will increase from $0.49 per unit to $0.51
per unit, payable February 15 to unitholders of record on February
2. * Quarterly dividends on the Corporation's common stock will
increase from $0.46 per share to $0.56 per share, payable February
15 to stockholders of record on February 2. The companies have
increased distributions and dividends every quarter since the
initial public offering of each company. About Crosstex Crosstex
Energy, L.P., a mid-stream natural gas company headquartered in
Dallas, operates over 5,000 miles of pipeline, nine processing
plants, four fractionators, and approximately 115 natural gas amine
treating plants. Crosstex currently provides services for
approximately 2.6 Bcf/day of natural gas, or approximately 4.9
percent of marketed U.S. daily production based on August 2005
Department of Energy data. Crosstex Energy, Inc. (NASDAQ:XTXI) owns
the two percent general partner interest, a 37 percent limited
partner interest, and the incentive distribution rights of Crosstex
Energy, L.P. Additional information about the Crosstex companies
can be found at http://www.crosstexenergy.com/. This press release
contains "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 herein
constitute forward-looking statements. Although the companies
believe that the expectations reflected in the forward-looking
statements are reasonable, they can give no assurance that such
expectations will prove to be correct. Contact: Barry E. Davis,
President and Chief Executive Officer William W. Davis, Executive
V.P. and Chief Financial Officer Phone: (214) 953-9500 First Call
Analyst: FCMN Contact: karenl@vollmerpr.com DATASOURCE: Crosstex
Energy, Inc. CONTACT: Barry E. Davis, President and Chief Executive
Officer, or William W. Davis, Executive V.P. and Chief Financial
Officer, +1-214-953-9500, both of Crosstex Web site:
http://www.crosstexenergy.com/
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