DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) announced a first quarter 2022 Common Unit cash distribution of $0.39 per unit, amounting to $1.56 per unit on an annualized basis. This payment will be made on May 13, 2022 to record holders by April 29, 2022.

Additionally, the company declared cash distributions for preferred units: a semi-annual Series A distribution of $36.875 per unit, a quarterly Series B distribution of $0.4922 per unit, and a quarterly Series C distribution of $0.4969 per unit, with payment dates set for June 15 and July 15, 2022.

Positive

• First quarter 2022 Common Unit cash distribution of $0.39 per unit ($1.56 annualized) reflects financial health.
• Scheduled payments for preferred units provide reliable income for investors.

Negative

• None.

DENVER, April 19, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a first quarter 2022 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 May 13, 2022 to common unitholders of record at the close of business on April 29, 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 June 15, 2022 to preferred unitholders of record at the close of business on June 1, 2022.

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

A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will be paid July 15, 2022 to preferred unitholders of record at the close of business on July 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 DCP Midstream cash distribution for Q1 2022?

DCP Midstream announced a cash distribution of $0.39 per Common Unit for Q1 2022.

When will DCP Midstream distribute dividends?

The Common Unit distribution will be paid on May 13, 2022, to holders of record by April 29, 2022.

What are the preferred unit distributions for DCP Midstream?

DCP announced a semi-annual Series A distribution of $36.875 per unit, and quarterly distributions for Series B and C of $0.4922 and $0.4969 per unit, respectively.

When will DCP Midstream's preferred unit dividends be paid?

Preferred unit distributions will be paid on June 15, 2022, for Series A and B, and on July 15, 2022, for Series C.