Energy Transfer Partners, L.P. (NYSE:
ETP) and Energy Transfer Equity, L.P. (NYSE:
ETE) today announced that the Board of Directors of each
Partnership has approved a quarterly distribution increase for the
quarter ended September 30, 2013.
ETP’s Board of Directors has approved an increase in its quarterly
distribution to $0.905 per unit ($3.62 annualized) on ETP common units
for the quarter ended September 30, 2013. The quarterly distribution of
$0.905 represents an increase of $0.045 per common unit on an annualized
basis. The cash distribution will be paid on November 14, 2013 to
unitholders of record as of the close of business on November 4, 2013.
"We are extremely pleased to have reached this point of resuming
distribution rate growth for our unitholders - it is something we've
worked hard to accomplish over the last several years and now that
distribution growth has resumed, we intend to continue it going
forward,” said Martin Salinas, Chief Financial Officer of ETP. “While we
have diversified our business, both from a geographic and business
capabilities standpoint, we have remained focused on our key objective
of increasing unitholder value. We are confident that increasing our
distribution per unit does just that. ETP is poised to continue
demonstrating unitholder value through 2013 and beyond as we execute on
not only bringing announced growth projects into service and further
driving our expenses down, but also through developing more growth
projects by capitalizing on opportunities around our asset base."
ETE’s Board of Directors has approved an increase in its quarterly
distribution to $0.6725 per unit ($2.69 annualized) on ETE common units
for the quarter ended September 30, 2013. The quarterly distribution of
$0.6725 represents an increase of $0.07 per common unit on an annualized
basis. This is the fourth consecutive quarter that ETE has raised its
distribution. The cash distribution will be paid on November 19, 2013 to
unitholders of record as of the close of business on November 4, 2013.
Both partnerships expect to release earnings for the quarter ended
September 30, 2013 on Tuesday, November 5, 2013, after the market
closes. ETP and ETE will conduct a joint conference call on Wednesday,
November 6, 2013 at 8:30 a.m. Central Time to discuss their quarterly
results. The conference call will be broadcast live via an internet web
cast, which can be accessed through www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web site
for a limited time.
Company: Energy Transfer Partners, L.P. (NYSE:
ETP)
Record Date: November 4, 2013
Ex-Date: October 31, 2013
Payment Date: November 14, 2013
Amount Paid: $0.905 per Common Unit
Company: Energy Transfer Equity, L.P. (NYSE:
ETE)
Record Date: November 4, 2013
Ex-Date: October 31, 2013
Payment Date: November 19, 2013
Amount Paid: $0.6725 per Common Unit
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 43,000 miles of natural gas, natural gas liquids,
refined products, and crude oil pipelines. ETP owns 100% of ETP Holdco
Corporation, which owns Southern Union Company and Sunoco, Inc., and a
70% interest in Lone Star NGL LLC, a joint venture that owns and
operates natural gas liquids storage, fractionation and transportation
assets. ETP also owns the general partner, 100% of the incentive
distribution rights, and approximately 33.5 million common units in
Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a
geographically diverse portfolio of crude oil and refined products
pipelines, terminalling and crude oil acquisition and marketing assets.
ETP’s general partner is owned by ETE. For more information, visit the
Energy Transfer Partners, L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.
(NYSE: ETP) and approximately 99.7 million ETP common units; and owns
the general partner and 100% of the IDRs of Regency Energy Partners LP
(NYSE: RGP) and approximately 26.3 million RGP common units. The Energy
Transfer family of companies owns more than 56,000 miles of natural gas,
natural gas liquids, refined products, and crude pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Regency Energy Partners LP (NYSE: RGP) is a
growth-oriented, midstream energy partnership engaged in the gathering
and processing, contract compression, treating and transportation of
natural gas and the transportation, fractionation and storage of natural
gas liquids. RGP also holds a 30% interest in Lone Star NGL LLC, a joint
venture that owns and operates natural gas liquids storage,
fractionation, and transportation assets in Texas, Louisiana and
Mississippi. Regency’s general partner is owned by Energy Transfer
Equity, L.P. (NYSE:ETE). For more information, visit the Regency Energy
Partners LP web site at www.regencyenergy.com.
Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered
in Philadelphia, is a master limited partnership that owns and operates
a logistics business consisting of a geographically diverse portfolio of
complementary crude oil and refined product pipeline, terminalling, and
acquisition and marketing assets. SXL’s general partner is owned by
Energy Transfer Partners, L.P. (NYSE: ETP). For more information, visit
the Sunoco Logistics Partners, L.P. web site at www.sunocologistics.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnerships’ Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnerships undertake no obligation to update or revise
any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for
under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Energy Transfer Partners, L.P.’s and Energy Transfer
Equity, L.P.’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, all of Energy Transfer Partners, L.P.’s and
Energy Transfer Equity, L.P.’s distributions to foreign investors are
subject to federal tax withholding at the highest applicable effective
tax rate. Nominees are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
The information contained in this press release is available on our web
site at www.energytransfer.com.
Copyright Business Wire 2013