DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream declared a third quarter 2020 common unit distribution of $0.39 per unit, amounting to $1.56 annually. This distribution will be paid on November 13, 2020 to unitholders of record by October 30, 2020. 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 December 15, 2020. A quarterly Series C preferred unit distribution of $0.4969 will be paid on January 15, 2021.

Positive

• Third quarter 2020 common unit distribution of $0.39 per unit ($1.56 annualized) demonstrates consistent shareholder returns.
• Scheduled distribution payments may enhance investor confidence.

Negative

• None.

DENVER, Oct. 16, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a third 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 November 13, 2020 to common unitholders of record at the close of business on October 30, 2020.

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 December 15, 2020 to preferred unitholders of record at the close of business on December 1, 2020.

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 January 15, 2021 to preferred unitholders of record at the close of business on January 4, 2021.

INVESTOR AND MEDIA 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 DCP Midstream third quarter 2020 common unit distribution?

DCP Midstream declared a third quarter 2020 common unit distribution of $0.39 per unit, or $1.56 annually.

When will DCP Midstream pay its third quarter distribution?

The third quarter distribution will be paid on November 13, 2020, to unitholders of record by October 30, 2020.

What are the Series A and B preferred unit distributions for DCP Midstream?

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

When are the preferred unit distributions paid for DCP Midstream?

The Series A preferred distribution will be paid on December 15, 2020, and the Series B preferred distribution will also be paid on the same date.

What is the Series C preferred unit distribution for DCP Midstream?

The quarterly Series C preferred unit distribution is $0.4969, to be paid on January 15, 2021.