Enterprise Products Partners (EPD) Recommends to Increase Q3, Q4 Distributions
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Enterprise Products Partners L.P. (NYSE: EPD) today announced that its management will recommend to the board of directors of its general partner increases in its cash distributions with respect to the third and fourth quarters of 2012, which would result in increases of 6.1 percent and 6.5 percent, respectively, compared to the cash distributions paid with respect to the third and fourth quarters of 2011.
With respect to the third quarter of 2012, management will recommend that the board consider and approve an increase in the cash distribution of $0.01 per unit, or $0.04 per unit annualized, plus a special distribution increase of $0.005 per unit, or $0.02 per unit annualized, for a total cash distribution of $0.65 per unit, or $2.60 per unit annualized. This would represent a 6.1 percent increase compared to the cash distribution of $0.6125 per unit, or $2.45 per unit annualized, that was paid with respect to the third quarter of 2011. The cash distribution with respect to the third quarter of 2012 would be paid in November 2012 to unitholders of record at the close of business on October 31, 2012.
Management also intends to recommend that the board consider an additional $0.01 per unit, or $0.04 per unit annualized, increase in the cash distribution to $0.66 per unit, or $2.64 per unit annualized, with respect to the fourth quarter of 2012. This would represent a 6.5 percent increase compared to the cash distribution of $0.62 per unit, or $2.48 per unit annualized, that was paid with respect to the fourth quarter of 2011. The cash distribution with respect to the fourth quarter of 2012 would be paid in February 2013 to unitholders of record at the close of business on January 31, 2013.
With respect to the third quarter of 2012, management will recommend that the board consider and approve an increase in the cash distribution of $0.01 per unit, or $0.04 per unit annualized, plus a special distribution increase of $0.005 per unit, or $0.02 per unit annualized, for a total cash distribution of $0.65 per unit, or $2.60 per unit annualized. This would represent a 6.1 percent increase compared to the cash distribution of $0.6125 per unit, or $2.45 per unit annualized, that was paid with respect to the third quarter of 2011. The cash distribution with respect to the third quarter of 2012 would be paid in November 2012 to unitholders of record at the close of business on October 31, 2012.
Management also intends to recommend that the board consider an additional $0.01 per unit, or $0.04 per unit annualized, increase in the cash distribution to $0.66 per unit, or $2.64 per unit annualized, with respect to the fourth quarter of 2012. This would represent a 6.5 percent increase compared to the cash distribution of $0.62 per unit, or $2.48 per unit annualized, that was paid with respect to the fourth quarter of 2011. The cash distribution with respect to the fourth quarter of 2012 would be paid in February 2013 to unitholders of record at the close of business on January 31, 2013.
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