Energy Transfer Announces Increase in Quarterly Cash Distribution
October 25 2022 - 4:15PM
Business Wire
Distribution Represents More Than 70 Percent
Increase Compared to Prior Year
Energy Transfer LP (NYSE: ET) today announced a quarterly
cash distribution of $0.265 per Energy Transfer common unit ($1.06
on an annualized basis) for the third quarter ended September 30,
2022, which will be paid on November 21, 2022 to unitholders of
record as of the close of business on November 4, 2022.
The distribution per unit is more than a 70 percent increase
over the third quarter of 2021 and is a 15 percent increase over
the second quarter of 2022. This distribution increase represents
another step in Energy Transfer’s plan to return additional value
to unitholders while maintaining its target leverage ratio of
4.0x-4.5x debt-to-EBITDA. Future increases to the distribution
level will be evaluated quarterly with the ultimate goal of
returning distributions to the previous level of $0.305 per
quarter, or $1.22 on an annual basis, while balancing the
partnership’s leverage target, growth opportunities and unit
buy-backs.
In addition, as previously announced, Energy Transfer plans to
release earnings for the third quarter of 2022 on Tuesday, November
1, 2022, after the market closes. The company will also conduct a
conference call on Tuesday, November 1, 2022 at 3:30 p.m. Central
Time/4:30 p.m. Eastern Time to discuss quarterly results and
provide a company update. The conference call will be broadcast
live via an internet webcast, which can be accessed on Energy
Transfer’s website at energytransfer.com. The call will also be
available for replay on Energy Transfer’s website for a limited
time.
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in
North America, with a strategic footprint in all of the major U.S.
production basins. Energy Transfer is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; and NGL fractionation.
Energy Transfer also owns Lake Charles LNG Company, as well as the
general partner interests, the incentive distribution rights and
28.5 million common units of Sunoco LP (NYSE: SUN), and the general
partner interests and 46.1 million common units of USA Compression
Partners, LP (NYSE: USAC). For more information, visit the Energy
Transfer LP website at energytransfer.com.
Forward Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results, including future distribution levels and leverage
ratio, are discussed in the Partnership’s Annual Report on Form
10-K and other documents filed from time to time with the
Securities and Exchange Commission. In addition to the risks and
uncertainties previously disclosed, the Partnership has also been,
or may in the future be, impacted by new or heightened risks
related to the COVID-19 pandemic, and we cannot predict the length
and ultimate impact of those risks. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
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 Energy Transfer LP’s distributions
to foreign investors are attributable to income that is effectively
connected with a United States trade or business. Accordingly, all
of Energy Transfer LP’s distributions to foreign investors are
subject to federal tax withholding at the highest applicable
effective tax rate. Nominees, and not Energy Transfer LP, are
treated as withholding agents responsible for withholding
distributions received by them on behalf of foreign investors.
The information contained in this press release is available on
our website at energytransfer.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221025005948/en/
Investor Relations: Bill Baerg Brent Ratliff Lyndsay Hannah
214-981-0795
Media Relations: Vicki Granado 214-840-5820
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