Williams (WMB), Williams Partners (WPZ) Reset Payouts as Part of Financial Repositioning

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Go back to Williams (WMB), Williams Partners (WPZ) Reset Payouts as Part of Financial Repositioning

Williams and Williams Partners Announce Financial Repositioning for Long-Term, Sustainable Growth

January 9, 2017 4:03 PM EST

Plan to Simplify Structure, Strengthen WPZ Distribution Coverage, Enhance Credit Profile, Improve WPZ Cost of Capital, Remove WPZ Need to Access Public Equity Markets and Optimize Asset Portfolio Williams to permanently waive incentive distribution rights and convert its economic general partner interest to a non-economic general partner interest for 289 million Williams Partners common units, increasing Williams ownership in Williams Partners to approximately 72% Williams and Williams Partners to reset payouts; improve coverage at Williams Partners Williams Partners quarterly distribution for the quarter ending March 31, 2017... More