American Midstream Partners (AMID) Declares $0.4125 Quarterly Dividend; 11.7% Yield

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Go back to American Midstream Partners (AMID) Declares $0.4125 Quarterly Dividend; 11.7% Yield

American Midstream Partners (AMID) to Sell Propane Business for $170M

July 24, 2017 6:32 AM EDT

American Midstream Partners, LP (NYSE: AMID) (Partnership or AMID) announced it has entered into a definitive agreement for the sale of the Partnerships Propane Marketing and Services (Propane) business to SHV Energy N.V. for $170 million in cash, subject to working capital adjustments. The transaction is expected to close in the third quarter of 2017.

Through the transaction, the Partnership will divest 100% of Propane, including Pinnacle Propanes 40 service locations; Pinnacle Propane Express cylinder exchange business and related logistic assets; and the Alliant Gas utility system.

For the past several quarters, the Partnerships management has... More