The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Enterprise Declares Distribution; 34th Consecutive Quarterly Distribution Rate Increase

Monday, January 14, 2013

Enterprise Declares Distribution; 34th Consecutive Quarterly Distribution Rate Increase08:45 EST Monday, January 14, 2013 HOUSTON (Business Wire) -- Enterprise Products Partners L.P. (NYSE: EPD) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.66 per common unit, or $2.64 per unit on an annualized basis. The quarterly distribution will be paid on Thursday, February 7, 2013, to unitholders of record as of the close of business on Thursday, January 31, 2013. This distribution rate, which represents a 6.5 percent increase over the $0.62 per unit distribution rate declared with respect to the fourth quarter of 2011, is the 43rd distribution rate increase since Enterprise's initial public offering in 1998 and the 34th consecutive quarterly increase. Enterprise will announce its fourth quarter of 2012 earnings on Thursday, January 31, 2013, before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 9 a.m. CT with analysts and investors to discuss its fourth quarter earnings. The call will be broadcast live on the Internet and may be accessed at the company's website, www.enterpriseproducts.com. To listen to the webcast, participants should access the “Investors” section of the company'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. The partnership's assets include approximately 50,700 miles of onshore and offshore pipelines; 190 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. 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. Enterprise Products Partners L.P.Randy Burkhalter, (713) 381-6812Investor RelationsorRick Rainey, (713) 381-3635Media Relations