We maintain the quarterly distribution at $0.31 per unit and the dividend at $0.10 per share. We expect these rates will remain flat through the fourth quarter of 2011 prior to the growth projects starting up in 2012. With the temporary operational challenges and a continued contribution from the commodity-based opportunities, we kept the distribution and dividend flat in the third quarter at $0.31 and $0.10 per share, respectively. This still represents a year-to-year date -- year-to-date increase in distributions of approximately 19% and dividends of approximately 25%.Our distribution so far this year have put it us in a position to exceed the top end of our distribution and dividend guidance. It's important for you to take away that we remain committed to distribution growth while maintaining disciplined balance sheet management. Because of the importance of distributions and dividends, Mike will go into greater detail regarding our plans and the process we go through to set them. However, I want to emphasize that we set them at the level we believe is appropriate given the results of the quarter and forward projections and not in the motive of quarter-by-quarter increases, which are not justified by actual results.
Crosstex Energy's CEO Discusses Q3 2011 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.