DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) has declared a fourth quarter 2020 common unit distribution of $0.39 per unit, equating to $1.56 annually. This will be paid on February 12, 2021, for unitholders on record by February 5, 2021.

Additionally, a quarterly Series B preferred unit distribution of $0.4922 will be distributed on March 15, 2021, to preferred unitholders of record by March 1, 2021. A Series C preferred unit distribution of $0.4969 is set for April 15, 2021, to be paid to record holders by April 1, 2021.

Positive

• Declared fourth quarter 2020 common unit distribution of $0.39 per unit.
• Annualized distribution of $1.56 per common unit enhances investor returns.

Negative

• None.

DENVER, Jan. 21, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a fourth quarter 2020 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 February 12, 2021 to common unitholders of record at the close of business on February 5, 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 March 15, 2021 to preferred unitholders of record at the close of business on March 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 April 15, 2021 to preferred unitholders of record at the close of business on April 1, 2021.

INVESTOR RELATIONS:	Sarah Sandberg
Phone:	303-605-1626

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 the common unit distribution announced by DCP Midstream for Q4 2020?

DCP Midstream announced a common unit distribution of $0.39 per unit for Q4 2020.

When will DCP Midstream's common unit distribution be paid?

The common unit distribution will be paid on February 12, 2021, to unitholders of record as of February 5, 2021.

What are the Series B preferred unit distribution details from DCP?

The Series B preferred unit distribution is $0.4922 per unit, payable on March 15, 2021.

What is the Series C preferred unit distribution amount from DCP?

The Series C preferred unit distribution is $0.4969 per unit, payable on April 15, 2021.