DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) has declared a third quarter 2022 Common Unit cash distribution of $0.43 per unit, representing $1.72 annually. This will be paid on November 14, 2022, to unitholders on record by October 28, 2022. Additionally, preferred unit distributions include a semi-annual Series A distribution of $36.875, a Series B quarterly distribution of $0.4922, and a Series C quarterly distribution of $0.4969, all scheduled for payment on December 15, 2022 and January 17, 2023.

Positive

• Declaring a quarterly Common Unit cash distribution of $0.43 per unit.
• Strong annualized distribution of $1.72 per unit.
• Scheduled payments for preferred unit distributions, indicating stable income flow.

Negative

• None.

DENVER, Oct. 13, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a third quarter 2022 Common Unit cash distribution of $0.43 per unit, or $1.72 per unit on an annualized basis. This quarterly Common Unit distribution will be paid November 14, 2022 to common unitholders of record at the close of business on October 28, 2022.

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, 2022 to preferred unitholders of record at the close of business on December 1, 2022.

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

A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will be paid January 17, 2023 to preferred unitholders of record at the close of business on January 3, 2023.

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
720-527-6505
MFullman@dcpmidstream.com

FAQ

What is the Common Unit cash distribution for DCP in Q3 2022?

DCP declared a Common Unit cash distribution of $0.43 per unit for Q3 2022.

When will DCP pay the Common Unit distribution?

The Common Unit distribution will be paid on November 14, 2022.

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

The annualized distribution rate for DCP's Common Units is $1.72 per unit.

What are the preferred unit distributions declared by DCP?

DCP declared a semi-annual Series A distribution of $36.875 and Series B and C distributions of $0.4922 and $0.4969, respectively.

When will preferred unit distributions be paid by DCP?

Preferred unit distributions will be paid on December 15, 2022, and January 17, 2023.