Tallgrass Energy Increases Quarterly Distributions and Announces Date for Fourth Quarter 2017 Financial Results
January 08 2018 - 4:15PM
Business Wire
Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass Energy
GP, LP (NYSE: TEGP) (“Tallgrass”) today announced their quarterly
distributions for the fourth quarter of 2017. The distributions
will be paid on Wednesday, February 14, 2018, to unitholders and
shareholders of record as of the close of business on Wednesday,
January 31, 2018.
TEP
The board of directors of TEP’s general partner declared a
quarterly cash distribution of $0.965 per common unit for the
fourth quarter of 2017, or $3.86 on an annualized basis. This
represents a sequential increase of 2.1 percent from the third
quarter 2017 distribution of $0.945 per common unit and an increase
of 18.4 percent from the fourth quarter 2016 distribution of $0.815
per common unit. It is TEP’s 18th consecutive increase since its
May 2013 IPO.
TEGP
The board of directors of TEGP’s general partner declared a
quarterly cash distribution of $0.3675 per Class A share for the
fourth quarter of 2017, or $1.47 on an annualized basis. This
represents a 3.5 percent sequential increase from the third quarter
2017 distribution of $0.3550 per Class A share and an increase of
32.4 percent from the fourth quarter 2016 distribution of $0.2775
per Class A share. It is TEGP’s 10th consecutive increase since its
May 2015 IPO.
Fourth Quarter 2017 Financial Results
and Conference Call
Tallgrass plans to report fourth quarter 2017 financial results
and release 2018 financial guidance on Tuesday, February 13, 2018,
and hold a conference call at 3:30 p.m. Central Time that same
day.
Tallgrass invites unitholders, shareholders and other interested
parties to listen to the call through a link posted on the Investor
Relations section of Tallgrass’s website at
www.tallgrassenergy.com.
Tax Considerations
This release is intended to be a qualified notice to nominees
and brokers under Treasury Regulation Sections 1.1446-4(b)(4) and
(d). All of TEP’s distributions to foreign investors are
attributable to income that is effectively connected with a United
States trade or business. Accordingly, TEP’s distributions to
foreign investors are subject to federal income tax withholding at
the highest effective tax rate.
About Tallgrass Energy
Tallgrass Energy is a family of companies that includes publicly
traded partnerships Tallgrass Energy Partners, LP (NYSE: TEP) and
Tallgrass Energy GP, LP (NYSE: TEGP), and privately held Tallgrass
Development, LP. Operating across 10 states, Tallgrass is a
growth-oriented midstream energy operator with transportation,
storage, terminal, water, gathering and processing assets that
serve some of the nation’s most prolific crude oil and natural gas
basins.
To learn more, please visit our website at
www.tallgrassenergy.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180108006476/en/
Tallgrass EnergyInvestor and Financial InquiriesNate
Lien, 913-928-6012investor.relations@tallgrassenergylp.comorMedia
and Trade InquiriesPhyllis Hammond,
303-763-3568phyllis.hammond@tallgrassenergylp.com
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