Enterprise Declares Quarterly Distribution

Rhea-AI Summary

Enterprise Products Partners L.P. (NYSE: EPD) announced a quarterly cash distribution of $0.445 per unit for Q3 2020, amounting to an annualized $1.78 per unit. This reflects a 0.6% increase compared to Q3 2019. The payment is scheduled for November 12, 2020, for unitholders of record by October 30, 2020. The partnership also plans to release its Q3 earnings on October 28, 2020, followed by a conference call at 9 a.m. CT. Enterprise operates a vast network of pipelines and storage facilities, providing a range of midstream energy services.

Positive

• Quarterly distribution of $0.445 per unit, a 0.6% increase from Q3 2019.
• Scheduled earnings announcement on October 28, 2020, allowing investors to review financial performance.

Negative

• None.

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared the quarterly cash distribution paid to limited partners holding Enterprise common units with respect to the third quarter of 2020 of $0.445 per unit, or $1.78 per unit on an annualized basis.

The quarterly distribution will be paid Thursday, November 12, 2020, to unitholders of record as of the close of business Friday, October 30, 2020. This distribution represents a 0.6 percent increase over the distribution declared with respect to the third quarter of 2019.

Enterprise will announce its earnings for the third quarter of 2020 on Wednesday, October 28, 2020, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the “Investors” section of the partnership’s website at www.enterpriseproducts.com. To listen to the webcast, participants should access the partnership’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and may be accessed one hour after completion of the call.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets currently include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Enterprise’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Enterprise’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.