DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) announced a fourth quarter 2021 Common Unit cash distribution of $0.39 per unit, equating to an annualized $1.56 per unit. This distribution is scheduled for payment on February 14, 2022, to unitholders on record as of February 4, 2022.

Additionally, a quarterly distribution of $0.4922 per unit for Series B Preferred Units will be paid on March 15, 2022, and $0.4969 for Series C Preferred Units on April 15, 2022. Foreign investors' distributions are subject to federal income tax withholding.

Positive

• Quarterly Common Unit cash distribution of $0.39 per unit, reflecting a stable income for unitholders.
• Commitment to timely distribution payments, enhancing investor confidence.

Negative

• None.

DENVER, Jan. 24, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a fourth quarter 2021 Common Unit cash distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly Common Unit distribution will be paid February 14, 2022 to common unitholders of record at the close of business on February 4, 2022.

A quarterly Series B Preferred Unit cash distribution of $0.4922 per unit will be paid March 15, 2022 to preferred unitholders of record at the close of business on March 1, 2022.

A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will be paid April 15, 2022 to preferred unitholders of record at the close of business on April 1, 2022.

This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of DCP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, DCP’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

About DCP Midstream, LP
DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.

Investor Relations
Mike Fullman
303-605-1628
MFullman@dcpmidstream.com

FAQ

What is the Common Unit cash distribution declared by DCP for Q4 2021?

DCP announced a cash distribution of $0.39 per Common Unit for the fourth quarter of 2021.

When will DCP pay the Common Unit cash distribution?

DCP will pay the Common Unit cash distribution on February 14, 2022.

What is the annualized cash distribution for DCP's Common Units?

The annualized cash distribution for DCP's Common Units is $1.56 per unit.

When will the Series B Preferred Unit distribution be paid?

The Series B Preferred Unit distribution of $0.4922 per unit will be paid on March 15, 2022.

What is the Series C Preferred Unit cash distribution amount and payment date?

The Series C Preferred Unit cash distribution is $0.4969 per unit, payable on April 15, 2022.