Energy Transfer LP ET

As I was Saying...

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Energy Transfer Announces Increase in Quarterly Cash Distribution

 

01/25/2023 4:30:00 PM

 

Distribution Represents Approximate 75 Percent Increase Compared to Prior Year

DALLAS--(BUSINESS WIRE)--Jan. 25, 2023--
 Energy Transfer LP (NYSE: ET) today announced a quarterly cash distribution of $0.305 per Energy Transfer common unit ($1.22 on an annualized basis) for the fourth quarter ended December 31, 2022, which will be paid on February 21, 2023 to unitholders of record as of the close of business on February 7, 2023.

The distribution per unit is an approximate 75 percent increase over the fourth quarter of 2021 and is a 15 percent increase over the third quarter of 2022. This distribution increase represents another step in Energy Transfer’s plan to return additional value to unitholders while maintaining its target leverage ratio of 4.0x-4.5x debt-to-EBITDA. Future distributions will be evaluated, while balancing the partnership’s leverage target, growth opportunities and unit buy-backs.

In addition, as previously announced, Energy Transfer plans to release earnings for the fourth quarter and full year 2022 on Wednesday, February 15, 2023, after the market closes. The company will also conduct a conference call on Wednesday, February 15, 2023 at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide a company update including an outlook for 2023. The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer’s website at energytransfer.com. The call will also be available for replay on Energy Transfer’s website for a limited time.