(Source: Business Wire)
Duncan Energy Partners L.P. (NYSE:DEP) today announced that the board of directors of its general partner declared an increase in its quarterly cash distribution rate paid to partners to $0.435 per common unit, or $1.74 per unit on an annualized basis. The cash distribution will be paid Friday, August 7, 2009, to unitholders of record at the close of business on Friday, July 31, 2009. This distribution represents a 3.6 percent increase from the $0.42 per unit distribution declared for the second quarter of 2008.
Duncan Energy Partners will announce its earnings for the second quarter 2009 on Monday, July 27, 2009, before the New York Stock Exchange opens for trading. A summary of the partnership's quarterly financial performance will be discussed during the Enterprise Products Partners L.P. (NYSE:EPD) conference call to be held that morning at 10 a.m. CDT. The call will be broadcast live on the Internet and may be accessed at the partnership's website, www.deplp.com.
To access the webcast, participants should visit the "Investor Resources" section of 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 can be accessed one hour after the completion of the call.
Duncan Energy Partners is a publicly traded partnership that provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, in addition to NGL fractionation (or separation), transportation and storage and petrochemical transportation and storage. Duncan Energy Partners owns interests in assets located primarily in Texas and Louisiana, including interests in approximately 9,200 miles of natural gas pipelines with a transportation capacity aggregating approximately 6.8 billion cubic feet ("Bcf") per day; more than 1,600 miles of NGL and petrochemical pipelines featuring access to the world's largest fractionation complex at Mont Belvieu, Texas; two NGL fractionation facilities located in south Texas; approximately 18 million barrels ("MMBbls") of leased NGL storage capacity; 8.5 Bcf of leased natural gas storage capacity; and 34 underground salt dome caverns with more than 100 MMBbls of NGL storage capacity at Mont Belvieu. Duncan Energy Partners L.P. is managed by its general partner, DEP Holdings, LLC, which is wholly-owned by a subsidiary of Enterprise Products Partners L.P. Additional information about Duncan Energy Partners is available online.
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