HOUSTON--(BUSINESS WIRE)--Jul. 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 $0.42
per common unit, or $1.68 per unit on an annualized basis.
The quarterly distribution will be paid on Monday, August 7, 2017, to
unitholders of record as of the close of business on Monday, July 31,
2017. This distribution, which represents a 5.0 percent increase over
the distribution declared with respect to the second quarter of 2016, is
the 61st distribution increase since Enterprise’s initial public
offering in 1998 and the 52nd consecutive quarterly increase.
Enterprise will announce its earnings for the second quarter of 2017 on
Tuesday, August 1, 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, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170705005122/en/
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
Randy Burkhalter, (713)
381-6812 or (866) 230-0745
Richert, (713) 381-3920
Rainey, (713) 381-3635