Crestwood Announces Quarterly Distribution and Schedules First Quarter 2021 Earnings Release Date

Rhea-AI Summary

Crestwood Equity Partners LP (NYSE: CEQP) announced a quarterly cash distribution of $0.625 per limited partner unit for Q1 2021, remaining flat quarter over quarter. Additionally, the partnership declared a distribution of $0.2111 per Class A preferred equity unit. Both distributions will be paid on May 14, 2021, to unitholders of record as of May 7, 2021. Crestwood will report its financial results for Q1 2021 on April 27, 2021, with a conference call scheduled at 9:00 a.m. ET to discuss operational updates.

Positive

• Quarterly cash distribution of $0.625 per unit remains stable.
• Class A preferred equity unit distribution set at $0.2111.
• Financial results report scheduled for April 27, 2021.

Negative

• None.

Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that the board of directors of its general partner has declared the partnership’s quarterly cash distribution of $0.625 per limited partner unit ($2.50 annually) for the quarter ended March 31, 2021, which is flat quarter over quarter. In addition, Crestwood announced a quarterly cash distribution of $0.2111 per Class A preferred equity unit ($0.8444 annually). Both common and preferred distributions will be made on May 14, 2021, to unitholders of record as of May 7, 2021.

Crestwood plans to report financial results for the first quarter 2021 on Tuesday, April 27, 2021, before the New York Stock Exchange opens for trading. Following the announcement, management will host a conference call for investors and analysts at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) that day to discuss the operating and financial results. Crestwood will provide an update on its operations and financial strategy at that time. The call will be broadcast live over the internet via audio webcast. Investors will be able to connect to the webcast via the “Investors” page of Crestwood’s website at www.crestwoodlp.com. Please log in at least ten minutes in advance to register and download any necessary software. A replay will be available shortly after the call for 90 days.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.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 securities 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. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.

Tax Notice to Foreign Investors

This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Crestwood’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Crestwood, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

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FAQ

What is the cash distribution amount for Crestwood Equity Partners LP for Q1 2021?

Crestwood Equity Partners LP declared a cash distribution of $0.625 per limited partner unit for Q1 2021.

When will Crestwood Equity Partners LP report its Q1 2021 financial results?

Crestwood will report its Q1 2021 financial results on April 27, 2021.

What date will the cash distributions be paid to unitholders?

Cash distributions will be paid on May 14, 2021, to unitholders of record as of May 7, 2021.

What is the distribution amount for Class A preferred equity units?

The distribution for Class A preferred equity units is $0.2111 per unit.