DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) declared a quarterly common unit distribution of $0.39 per unit, totaling $1.56 annually. This will be paid on May 14, 2021, to unitholders of record by April 30, 2021. Additionally, a semi-annual Series A preferred unit distribution of $36.875 and a quarterly Series B preferred unit distribution of $0.4922 will be paid on June 15, 2021. A quarterly Series C preferred unit distribution of $0.4969 will be distributed on July 15, 2021. The distributions to foreign investors are subject to federal income tax withholding.

Positive

• Declared a quarterly common unit distribution of $0.39 per unit.
• Announced a favorable preferred unit distribution schedule.

Negative

• None.

DENVER, April 20, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a first 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 May 14, 2021 to common unitholders of record at the close of business on April 30, 2021.

In addition, the board of directors declared a semi-annual Series A preferred unit distribution of $36.875 per unit and a quarterly Series B preferred unit distribution of $0.4922 per unit. These preferred unit cash distributions will be paid June 15, 2021 to preferred unitholders of record at the close of business on June 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 July 15, 2021 to preferred unitholders of record at the close of business on July 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 DCP Midstream's quarterly common unit distribution for Q1 2021?

DCP Midstream's quarterly common unit distribution for Q1 2021 is $0.39 per unit.

When will DCP Midstream pay its common unit distribution?

DCP Midstream will pay its common unit distribution on May 14, 2021.

What are the preferred unit distributions declared by DCP Midstream?

DCP Midstream declared a semi-annual Series A distribution of $36.875 and a quarterly Series B distribution of $0.4922.

When will the preferred unit distributions be paid by DCP Midstream?

The preferred unit distributions will be paid on June 15, 2021, and July 15, 2021.

How will DCP Midstream's distributions to foreign investors be taxed?

DCP Midstream's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.