Crosstex Announces Increases in Dividend and Distribution Rates
January 24 2007 - 6:55AM
Business Wire
The Crosstex Energy companies today announced increases in the
quarterly distribution for Crosstex Energy, L.P. (NASDAQ: XTEX)
(the Partnership) and the quarterly dividend for Crosstex Energy,
Inc. (NASDAQ: XTXI) (the Corporation): The quarterly distribution
on the Partnership�s common and subordinated units will increase to
$0.56 per unit from $0.55 per unit payable February 15 to
unitholders of record February 2. The quarterly dividend on the
Corporation�s common stock will increase to $0.22(a) per share from
$0.213 per share payable February 15 to stockholders of record
February 2. (a) Reflects a December 15, 2006 three-for-one split of
the Corporation�s general partner shares. About the Crosstex Energy
Companies Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates over 5,000 miles of pipeline, 12
processing plants, four fractionators, and approximately 160
natural gas amine-treating plants in service and approximately 35
dew point control plants. Crosstex currently provides services for
over 3.0 Bcf/day of natural gas, or approximately 6.0 percent of
marketed U.S. daily production based on August 2006 Department of
Energy data. Crosstex Energy, Inc. owns the two percent general
partner interest, a 42 percent limited partner interest, and the
incentive distribution rights of Crosstex Energy, L.P. Additional
information about the Crosstex companies can be found at
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.
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