By a News Reporter-Staff News Editor at Energy Weekly News -- Enterprise Products Partners L.P. (NYSE: EPD) ("Enterprise") announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to $0.41 per common unit, or $1.64 per unit on an annualized basis.
The quarterly distribution will be paid on Tuesday, February 7, 2017, to unitholders of record as of the close of business on Tuesday, January 31, 2017. This distribution, which represents a 5.1 percent increase over the distribution declared with respect to the fourth quarter of 2015, is the 59th distribution increase since Enterprise's initial public offering in 1998 and the 50th consecutive quarterly increase.
Enterprise will announce its earnings for the fourth quarter of 2016 on Monday, January 30, 2017, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the "Investors" section of the partnership's website, www.enterpriseproducts.com. To listen to the webcast, participants should access the partnership'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 may be accessed one hour after completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership's assets include approximately 49,000 miles of pipelines; 250 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.
Keywords for this news article include: Energy, Oil & Gas, Natural Gas, Enterprise Products Partners L.P..
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