|Enterprise Declares Increased Cash Distribution of $0.525 Per Unit|
HOUSTON--(BUSINESS WIRE)--July 17, 2000--Enterprise Products Partners L.P. (NYSE:EPD) declared a 5-percent increase in its regular quarterly cash distribution rate to $0.525 per common and subordinated partnership unit. The distribution will be paid on August 10, 2000 to unitholders of record at the close of business on July 31, 2000.
This is the second increase in the cash distribution rate in the past six months. During this time period, the quarterly cash distribution rate to unitholders has increased by 16.7 percent
Enterprise Products Partners L.P. is the second largest publicly traded partnership with an enterprise value of approximately $2.2 billion. Enterprise is a midstream energy service company providing integrated processing, fractionation, transportation, storage and terminalling services to producers and consumers of natural gas liquids (NGLs) and other petroleum liquids. The company's assets are geographically focused on the United States' Gulf Coast, which accounts for approximately 55 percent of domestic NGL production and 75 percent of domestic NGL demand.
This press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 based on the beliefs of the company, as well as assumptions made by, and information currently available to, management. Although Enterprise believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
CONTACT: Enterprise Products Partners L.P., Houston
Randy Fowler, 713/880-6694