Western Midstream Partners, LP (WES) Lowers Dividend, Revised Capital Guidance
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Western Midstream Announces First-Quarter 2020 Distribution, Revised Capital Guidance, Cost Reductions, And Earnings Conference Call
April 20, 2020 4:05 PM EDTHOUSTON, April 20, 2020 /PRNewswire/ --Â Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution of $0.311 per unit for the first quarter of 2020, which represents a 50-percent decrease from the fourth-quarter 2019 per-unit distribution. This distribution decrease was undertaken to protect, restore, and strengthen WES's balance sheet as the COVID-19 worldwide pandemic, declining economic activity and energy demand, and depressed commodity prices continue to underpin broad-based market uncertainty. WES's first-quarter 2020 distribution is payable May 14, 2020, to... More
