Crosstex Resumes Payment of Quarterly Distribution and Dividend
October 19 2010 - 6:00PM
Business Wire
The Crosstex Energy companies today announced the declaration of
the quarterly distribution for Crosstex Energy, L.P. (NASDAQ: XTEX)
(the Partnership) and the quarterly dividend for Crosstex Energy,
Inc. (NASDAQ: XTXI) (the Corporation) from the third quarter of
2010:
- The quarterly distribution on the
Partnership’s common and preferred units will be $0.25 per unit
payable November 12 to unitholders of record November 1.
- The quarterly dividend on the
Corporation’s common stock will be $0.07 per share payable November
12 to stockholders of record November 1.
“The resumption of our distribution and dividend represents an
important milestone for Crosstex. It reflects the successful
execution of the plan that we laid out for the business, which
strategically positions us for the future,” said Barry E. Davis,
Crosstex President and Chief Executive Officer. “We have achieved
our goals of reducing leverage, growing our core business, and
resuming the distributions and dividends to our equity holders. We
look forward to providing more information in our earnings call
scheduled for Friday, November 5 at 10:00 a.m. Central time (11:00
a.m. Eastern time).”
About the Crosstex Energy
Companies
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates approximately 3,300 miles of
pipeline, nine processing plants and three fractionators. The
Partnership currently provides services for 3.2 billion cubic feet
of natural gas per day, or approximately six percent of marketed
U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner
interest, a 25 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 the Federal securities laws. 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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