Energy Transfer Equity Announces Quarterly Cash Distribution
January 27 2016 - 4:15PM
Business Wire
Maintaining Distribution at 3Q 2015 level in
light of current market environment
Extends management fee to ETP through
2016
Earnings to be released February 24
Energy Transfer Equity, L.P. (NYSE: ETE) today announced
its quarterly cash distribution of $0.285 per ETE common unit for
the fourth quarter ended December 31, 2015, or $1.14 per unit on an
annualized basis. The distribution is the same as that announced
for the third quarter 2015.
The cash distribution will be paid on February 19, 2016, to
unitholders of record as of the close of business on February 8,
2016.
ETE has also agreed with Energy Transfer Partners, L.P. (NYSE:
ETP) to extend through 2016 the $95 million annual management fee
that was previously in effect through 2015. ETP’s other actions and
steps announced today will reinforce ETP’s financial profile for
2016, and that financial profile further strengthens, once its
approximately $10 billion capital program is completed by the end
of this year.
ETE plans to release earnings for the fourth quarter of 2015 on
Wednesday, February 24, 2016, after the market closes. ETE and its
subsidiary, ETP, will conduct a joint conference call on Thursday,
February 25, 2016, at 8:00 a.m. Central Time to discuss quarterly
results. During the scheduled time of the conference call, a live
webcast will be available on Energy Transfer’s website at
www.energytransfer.com. The call will also be available for replay
on Energy Transfer’s website for a limited time.
The following information applies to ETE’s quarterly
distribution announcement:
Record Date:
February 8, 2016
Ex-Date:
February 4, 2016
Payment Date:
February 19, 2016
Amount Paid:
$0.285 per common unit
Energy Transfer Equity, L.P. (NYSE:ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE:ETP) and Sunoco, LP (NYSE:SUN), approximately 2.6
million ETP common units, approximately 81.0 million ETP Class H
Units, which track 90% of the underlying economics of the general
partner interest and IDRs of Sunoco Logistics Partners L.P.
(NYSE:SXL), and 100 ETP Class I Units. On a consolidated basis,
ETE’s family of companies owns and operates approximately 71,000
miles of natural gas, natural gas liquids, refined products, and
crude oil pipelines. For more information, visit the Energy
Transfer Equity, L.P. website at www.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 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. 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 Equity, 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 Energy Transfer Equity, L.P.’s distributions to
foreign investors are subject to federal tax withholding at the
highest applicable effective tax rate. Nominees 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 www.energytransfer.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160127006368/en/
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orLyndsay Hannah, 214-840-5477orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785214-498-9272
(cell)
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