Enbridge Energy (NYSE:EEP)
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1 Year : From May 2018 to May 2019
HOUSTON, Oct. 24, 2018 /PRNewswire/ - Enbridge Energy Partners, L.P. (NYSE: EEP) (EEP or the Partnership) announced today that the Board of Directors of Enbridge Energy Management, L.L.C. (EEM), the delegate of the Partnership's general partner, has declared a quarterly cash distribution of $0.35 per unit, or $1.40 per unit on an annualized basis, on all of the Partnership's outstanding units for the quarter ended September 30, 2018. The approved distribution remains unchanged from the previous quarter. The distribution is payable on November 14, 2018, to unitholders of record at the close of business on November 7, 2018.
Enbridge Energy Management, L.L.C. Distribution
Enbridge Energy Management, L.L.C. (NYSE: EEQ) (Enbridge Management) today declared a distribution of $0.35 per share payable on November 14, 2018, to shareholders of record on November 7, 2018. The distribution will be paid in the form of additional shares of Enbridge Management valued at the average closing price of the shares for the 10 trading days prior to the ex-dividend date on November 6, 2018. Enbridge Management's sole asset is its approximate 21 percent limited partner interest in EEP. Enbridge Management's results of operations, financial condition and cash flows depend on the results of operations, financial condition and cash flows of EEP.
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 Enbridge Energy Partners, 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 Enbridge Energy Partners, L.P.'s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Enbridge Energy Partners, L.P., are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The system's deliveries to refining centers and connected carriers in the United States account for approximately 25 percent of total U.S. oil imports. Enbridge Energy Partners, L.P. is traded on the New York Stock Exchange under the symbol EEP; information about the partnership is available on its website at www.enbridgepartners.com.
About Enbridge Energy Management, L.L.C.
Enbridge Energy Management, L.L.C. manages the business and affairs of the Partnership, and its sole asset is an approximate 21 percent limited partner interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, Canada (NYSE: ENB) (TSX: ENB) is the general partner of the Partnership and holds an approximate 35 percent interest in the Partnership. Enbridge Management is the delegate of the general partner of the Partnership.
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SOURCE Enbridge Energy Partners, L.P.