DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) announced a second quarter 2021 common unit distribution of $0.39 per unit, equating to $1.56 annualized, payable on August 13, 2021. The record date for this distribution is July 30, 2021. Additionally, a Series B preferred unit distribution of $0.4922 will be paid on September 15, 2021, with a record date of September 1, 2021. A Series C preferred unit distribution of $0.4969 is scheduled for October 15, 2021, with a record date of October 1, 2021.

Positive

• Declared a common unit distribution of $0.39 per unit for Q2 2021.
• Annualized distribution rate of $1.56 per unit reflects stable returns.
• Series B and C preferred distributions indicate ongoing commitment to investors.

Negative

• None.

DENVER, July 20, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a second quarter 2021 common unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly common unit distribution will be paid August 13, 2021 to common unitholders of record at the close of business on July 30, 2021.

In addition, the board of directors declared a quarterly Series B preferred unit distribution of $0.4922 per unit. This preferred unit cash distribution will be paid September 15, 2021 to preferred unitholders of record at the close of business on September 1, 2021.

The board of directors also declared a quarterly Series C preferred unit distribution of $0.4969 per unit. This preferred unit cash distribution will be paid October 15, 2021 to preferred unitholders of record at the close of business on October 1, 2021.

INVESTOR RELATIONS:	Mike Fullman
Phone:	303-605-1628

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.

FAQ

What is DCP Midstream's Q2 2021 common unit distribution amount?

DCP Midstream declared a common unit distribution of $0.39 per unit for Q2 2021.

When will DCP Midstream pay its common unit distribution?

The common unit distribution will be paid on August 13, 2021.

What are the record dates for DCP Midstream's distributions in 2021?

The record date for the common unit distribution is July 30, 2021; for Series B it's September 1, 2021; and for Series C it's October 1, 2021.

What is the annualized distribution for DCP Midstream's common units?

The annualized distribution is $1.56 per unit.

What are the amounts for DCP Midstream's Series B and C preferred unit distributions?

Series B preferred unit distribution is $0.4922, and Series C is $0.4969.