Enterprise Products Partners L.P. (NYSE:EPD) today announced that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.56 per common unit, or $2.24 per unit on an annualized basis. The quarterly distribution will be paid on Thursday, February 4, 2010, to unitholders of record as of the close of business on Friday, January 29, 2010. This distribution rate, which represents a 5.7 percent increase over the $0.53 per unit distribution rate declared with respect to the fourth quarter of 2008, is the 31st distribution increase since Enterprise’s initial public offering in 1998 and the 22nd consecutive quarterly increase.
Enterprise will announce earnings for the fourth quarter 2009 on Monday, February 1, 2010, before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 8 a.m. CST with analysts and investors to discuss fourth quarter earnings. The call will be broadcast live on the Internet and may be accessed at the company’s website, www.epplp.com.
To listen to the webcast, participants should access the “Investor Relations” section of the company’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and can be accessed one hour after the completion of the call.
Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership’s assets include: more than 48,000 miles of onshore and offshore pipelines; approximately 200 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE: EPE – News). For more information on Enterprise GP Holdings L.P., visit www.enterprisegp.com.