Enterprise Declares Quarterly Distribution Increase
January 12 2018 - 8:42AM
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 to $0.425 per common unit, or $1.70 per unit on an
annualized basis.
The quarterly distribution will be paid on Wednesday, February
7, 2018, to unitholders of record as of the close of business on
Wednesday, January 31, 2018. This distribution, which represents a
3.7 percent increase over the distribution declared with respect to
the fourth quarter of 2016, is the 54th consecutive quarterly
increase and the 63rd overall distribution increase since
Enterprise’s initial public offering in 1998.
Enterprise will announce its earnings for the fourth quarter of
2017 on Wednesday, January 31, 2018, before the New York Stock
Exchange opens for trading. Following the announcement, the
partnership will host a conference call at 9 a.m. CT 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: http://www.businesswire.com/news/home/20180112005296/en/
Enterprise Products Partners L.P.Randy Burkhalter, 713-381-6812
or 866-230-0745Investor RelationsorRick Rainey, 713-381-3635Media
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