Energy Transfer Equity Announces Ninth Consecutive Quarterly Cash Distribution Increase
27 January 2015 - 1:15AM
Business Wire
Distribution per Unit up 30% Compared to
Same Period Last Year
Earnings Release and Earnings Call Dates
Also Announced
Energy Transfer Equity, L.P. (NYSE: ETE) today announced
that its Board of Directors has approved a $0.035 increase in its
quarterly cash distribution to $0.45 per ETE common unit for the
fourth quarter ended December 31, 2014, or $1.80 per unit on an
annualized basis.
Adjusting for the ETE unit split completed in January 2014, the
quarterly distribution of $0.45 per ETE common unit represents a
distribution increase of 30% on an annualized basis compared to the
fourth quarter of 2013. This also represents an annualized
distribution increase of $0.14 per common unit, or 8.4%, compared
to the third quarter of 2014 and marks the ninth consecutive
quarter that ETE has raised its distribution. The cash distribution
will be paid on February 19, 2015 to unitholders of record as of
the close of business on February 6, 2015.
ETE plans to release earnings for the fourth quarter of 2014 on
Wednesday, February 18, 2015, after the market closes. ETE and its
subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will
conduct a joint conference call on Thursday, February 19, 2015 at
8:00 a.m. Central Time to discuss quarterly results. During the
scheduled time of the conference call, a live webcast will be
available on Energy Transfer’s web site at www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web
site for a limited time.
The following information applies to ETE’s quarterly
distribution announcement:
Record Date:
February 6, 2015
Ex-Date:
February 4, 2015
Payment Date:
February 19, 2015
Amount Paid:
$0.45 per common unit
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE: ETP), approximately 30.8 million ETP common units, and
approximately 50.2 million ETP Class H Units, which track 50% of
the underlying economics of the general partner interest and IDRs
of Sunoco Logistics Partners L.P. (NYSE: SXL). ETE also owns the
general partner and 100% of the IDRs of Regency Energy Partners LP
(NYSE: RGP) and approximately 57.2 million RGP common units. On a
consolidated basis, ETE’s family of companies owns and operates
approximately 71,000 miles of natural gas, natural gas liquids,
refined products, and crude oil pipelines. For more information,
visit the Energy Transfer Equity, L.P. web site at
www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master
limited partnership owning and operating one of the largest and
most diversified portfolios of energy assets in the United States.
ETP currently owns and operates approximately 35,000 miles of
natural gas and natural gas liquids pipelines. ETP also owns 100%
of Panhandle Eastern Pipe Line Company, LP (the successor of
Southern Union Company) and a 70% interest in Lone Star NGL LLC, a
joint venture that owns and operates natural gas liquids storage,
fractionation and transportation assets. ETP also owns the general
partner, 100% of the incentive distribution rights, and
approximately 67.1 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling
and crude oil acquisition and marketing assets. ETP owns 100% of
Sunoco, Inc. and 100% of Susser Holdings Corporation. Additionally
ETP owns the general partner, 100% of the incentive distribution
rights and approximately 43% of the limited partnership interests
in Sunoco LP (formerly Susser Petroleum Partners LP) (NYSE: SUN), a
wholesale fuel distributor and convenience store operator. ETP’s
general partner is owned by ETE. For more information, visit the
Energy Transfer Partners, L.P. web site at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in the Partnership’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
This release serves as qualified notice to nominees as provided
for under Treasury Regulation section 1.1446-4(b)(4) and (d).
Please note that 100 percent of Energy Transfer Equity, L.P.’s
distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of Energy Transfer Equity, L.P.’s distributions to
foreign investors are subject to federal tax withholding at the
highest applicable effective tax rate. Nominees are treated as
withholding agents responsible for withholding distributions
received by them on behalf of foreign investors.
The information contained in this press release is available on
our web site at www.energytransfer.com.
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orMedia Relations:Granado Communications GroupVicki
Granado, 214-599-8785Cell: 214-498-9272
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