HOUSTON--(BUSINESS WIRE)--Apr. 5, 2017--
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 partners to $0.415
per common unit, or $1.66 per unit on an annualized basis.
The quarterly distribution will be paid on Monday, May 8, 2017, to
unitholders of record as of the close of business on Friday, April 28,
2017. This distribution, which represents a 5.1 percent increase over
the distribution declared with respect to the first quarter of 2016, is
the 60th distribution increase since Enterprise’s initial public
offering in 1998 and the 51st consecutive quarterly increase.
Enterprise will announce its earnings for the first quarter of 2017 on
Tuesday, May 2, 2017, 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, 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, and export and import
terminals; petrochemical and refined products transportation, storage,
export and import terminals and related services; and a marine
transportation business that operates primarily on the United States
inland and Intracoastal Waterway systems. The partnership’s assets
include approximately 49,300 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
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170405005736/en/
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
Randy Burkhalter, (713)
381-6812 or (866) 230-0745
Rainey, (713) 381-3635