DCP Midstream Announces Common and Preferred Unit Distributions and Timing of Third Quarter Earnings Conference Call

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) announced its third quarter 2021 common and preferred unit distributions. The board declared a cash distribution of $0.39 per common unit, equating to an annualized $1.56 per unit, payable on November 12, 2021, to unitholders of record by October 29, 2021. Additionally, preferred unit distributions include $36.875 for Series A, $0.4922 for Series B, and $0.4969 for Series C, all payable in mid-December 2021 and January 2022. The company plans to report third quarter earnings on November 2, 2021, with a conference call scheduled for November 3, 2021.

Positive

• Declared third quarter common unit distribution of $0.39 per unit, or $1.56 annualized.
• Series A preferred unit distribution of $36.875 per unit to be paid on December 15, 2021.
• Series B and C preferred unit distributions of $0.4922 and $0.4969, respectively, will be paid in December 2021 and January 2022.

Negative

• None.

DENVER, Oct. 12, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) today announced common and preferred unit distributions for third quarter 2021. Further, DCP announced that its third quarter 2021 earnings will be reported after the New York Stock Exchange closes for trading on Tuesday, November 2, 2021, and a conference call to discuss quarterly earnings will be hosted at 10:00 a.m. ET on Wednesday, November 3, 2021.

Third Quarter Distribution Declaration
The board of directors of DCP’s general partner declared a third quarter 2021 Common Unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly Common Unit cash distribution will be paid November 12, 2021 to common unitholders of record at the close of business on October 29, 2021.

In addition, the board of directors declared distributions for preferred units. A semi-annual Series A Preferred Unit cash distribution of $36.875 per unit will be paid December 15, 2021 to preferred unitholders of record at the close of business on December 1, 2021.

A quarterly Series B Preferred Unit cash distribution of $0.4922 per unit will be paid December 15, 2021 to preferred unitholders of record at the close of business on December 1, 2021.

A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will be paid January 18, 2022 to preferred unitholders of record at the close of business on January 3, 2022.

Third Quarter Earnings Conference Call Details
DCP will host a conference call to discuss its third quarter 2021 earnings at 10:00 a.m. ET on Wednesday, November 3, 2021. The live audio webcast of the conference call and accompanying presentation slides will be accessible through the Investors section of the DCP website at www.dcpmidstream.com, and the conference call can be accessed by dialing (844) 233-0113 in the United States or (574) 990-1008 outside the United States. The conference ID number is 8273648.

A replay of the conference call will be available until November 10, 2021 by dialing (855) 859-2056 in the United States or (404) 537-3406 outside the United States and using the previously-noted conference ID number. An audio webcast replay and transcript will also be available by accessing the Investors section of the DCP website at www.dcpmidstream.com.

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 DCP Midstream third quarter distribution amount for 2021?

The third quarter distribution for DCP Midstream in 2021 is $0.39 per common unit, payable on November 12, 2021.

When will DCP Midstream announce its third quarter 2021 earnings?

DCP Midstream will report its third quarter 2021 earnings after market close on November 2, 2021.

What are the preferred unit distributions for DCP Midstream for the third quarter 2021?

DCP Midstream declared a semi-annual Series A Preferred Unit cash distribution of $36.875 per unit, along with quarterly distributions of $0.4922 for Series B and $0.4969 for Series C, all payable in December 2021 and January 2022.