DCP Midstream Announces Common and Preferred Unit Distributions

Rhea-AI Summary

DCP Midstream, LP (NYSE: DCP) announced a second quarter 2020 common unit distribution of $0.39 per unit, totaling $1.56 annually. This will be paid on August 14, 2020, to unitholders of record by July 31, 2020. Additionally, quarterly distributions for Series B and C preferred units were declared at $0.4922 and $0.4969 per unit, respectively. Payments are scheduled for September 15, 2020 and October 15, 2020, to respective unitholders of record by September 1 and October 1.

Positive

• Common unit distribution set at $0.39 per unit, demonstrating ongoing shareholder returns.
• Quarterly Series B and C preferred distributions also announced, indicating stable financial health.

Negative

• None.

DENVER, July 21, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a second 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 August 14, 2020 to common unitholders of record at the close of business on July 31, 2020.

In addition, the board of directors declared a quarterly Series B preferred unit distribution of $0.4922 per unit. This preferred unit cash distribution will be paid September 15, 2020 to preferred unitholders of record at the close of business on September 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 October 15, 2020 to preferred unitholders of record at the close of business on October 1, 2020.

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25%; width:25%; min-width:25%;">INVESTOR AND MEDIA RELATIONS:	75%; width:75%; min-width:75%;">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 common unit distribution for Q2 2020?

DCP Midstream declared a common unit distribution of $0.39 per unit for Q2 2020.

When will DCP Midstream pay its Q2 2020 distribution?

The Q2 2020 common unit distribution will be paid on August 14, 2020.

What are the payment dates for DCP Midstream's preferred unit distributions?

Preferred unit distributions will be paid on September 15, 2020, and October 15, 2020.

What is the annualized common unit distribution for DCP Midstream?

The annualized common unit distribution for DCP Midstream is $1.56 per unit.