Enterprise Declares Quarterly Distribution Increase
April 10 2018 - 4:43PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”)
announced today that the board of directors of its general partner
declared an increase in the quarterly cash distribution paid to
limited partners with respect to the first quarter of 2018 to
$0.4275 per common unit, or $1.71 per unit on an annualized
basis.
The quarterly distribution will be paid Tuesday, May 8, 2018, to
unitholders of record as of the close of business Monday, April 30,
2018. This distribution, which represents a 3.0 percent increase
over the distribution declared with respect to the first quarter of
2017, is not only the 64th overall distribution increase since
Enterprise’s initial public offering in 1998, but also the 55th
consecutive quarterly distribution increase.
Enterprise will announce its earnings for the first quarter of
2018 on Monday, April 30, 2018, before the New York Stock Exchange
opens for trading. Following the announcement, the partnership will
host a conference call at 9 a.m. CDT with analysts and investors to
discuss earnings. The call will be webcast live on the Internet and
may be accessed through the “Investors” section of the
partnership’s website at www.enterpriseproducts.com. To listen to
the webcast, participants should access the partnership’s website
at least 15 minutes prior to the start of the conference call to
download and install any necessary audio software. A replay of the
webcast will be available for one week following the conference
call and may be accessed one hour after completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage, and export and import terminals; crude oil gathering,
transportation, storage, export and terminals; petrochemical and
refined products transportation, storage and terminals; and a
marine transportation business that operates primarily on the
United States inland and Intracoastal Waterway systems. The
partnership’s assets include approximately 50,000 miles of
pipelines; 260 million barrels of storage capacity for NGLs, crude
oil, refined products and petrochemicals; and 14 billion cubic feet
of natural gas storage capacity.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat
one hundred percent (100.0%) of Enterprise’s distributions to
non-U.S. investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, Enterprise’s distributions to non-U.S. investors are
subject to federal income tax withholding at the highest applicable
effective tax rate.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition,
and other risk factors included in Enterprise’s reports filed with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of their dates. Except as required by law, Enterprise
does not intend to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180410006616/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
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