Enbridge Energy Management, L.L.C. Confirms Amount of Share Distribution for Third Quarter 2013
HOUSTON, TX--(Marketwired - Nov 6, 2013) - Enbridge Energy Management, L.L.C. (NYSE: EEQ) ("Enbridge Management") today confirmed that its previously declared share distribution, to be paid on November 14, 2013, will consist of 1.8584 additional shares for each 100 shares of record on November 7, 2013.
The distribution of additional Enbridge Management shares is based on the notional cash value of the declared distribution of $0.5435 per share and the average closing price of Enbridge Management shares for the ten consecutive trading days prior to the ex-dividend date.
Enbridge Management, L.L.C. manages the business and affairs of Enbridge Energy Partners, L.P. ("Enbridge Partners") (NYSE: EEP), and its sole asset is an approximate 19 percent limited partner interest in Enbridge Partners. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) is the general partner of Enbridge Partners, and holds an approximate 21 percent interest in Enbridge Partners together with all of the outstanding preferred interests in Enbridge Partners.
Enbridge Partners owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 15 percent of total U.S. oil imports, while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.5 billion cubic feet of natural gas daily. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.