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 $0.6350 per common
unit, or $2.54 per unit on an annualized basis. The quarterly
distribution will be paid on Wednesday, August 8, 2012, to unitholders
of record as of close of business on Tuesday, July 31, 2012. This
distribution rate, which represents a 5 percent increase over the
$0.6050 per unit distribution rate declared with respect to the second
quarter of 2011, is the 41st distribution increase since
Enterprise’s initial public offering in 1998 and the 32nd
consecutive quarterly increase.
Enterprise will announce its second quarter of 2012 earnings on
Wednesday, August 1, 2012, 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 second
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 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: 50,600 miles of 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
terminaling; offshore production platform services; crude oil and
refined products transportation, storage and terminaling; petrochemical
transportation and storage; 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.
