The Board of Directors of NRGM GP, LLC, general partner of Inergy Midstream, L.P. (NYSE:NRGM), announced that it has declared a prorated cash distribution of $0.04 per limited partner unit for the quarter ended December 31, 2011. The $0.04 cash distribution per limited partner unit corresponds to an initial quarterly cash distribution of $0.37 per quarter ($1.48 annually) and represents the prorated distribution for the period of time from December 21, 2011, the closing of Inergy Midstream’s initial public offering, through December 31, 2011, the end of its first fiscal quarter. The distribution will be paid on February 14, 2012, to unitholders of record as of February 7, 2012.
“Our business is performing as expected, and we are pleased to declare the first distribution to our new unitholders,” said John Sherman, President and CEO of Inergy Midstream. “Inergy Midstream’s business is fee based and comprised of high-quality assets located on top of the Marcellus Shale and upstream of the premium demand market of the Northeast.”
Mr. Sherman continued, “From a position of financial strength and flexibility, we expect to deliver growth in cash distributions to unitholders through current organic growth projects, additional bolt-on opportunities, and other expansion initiatives.”
Inergy Midstream plans to release its fiscal 2012 first quarter earnings on January 31, 2012. Inergy Midstream will host a live conference call and internet webcast on January 31, 2012, at 9:00 a.m. Central Time to discuss the results of operations for the quarter ended December 31, 2011, and its business outlook. The call-in number for the earnings call is 1-888-595-3894, and the conference name is Inergy Midstream. The live internet webcast and the replay can be accessed on Inergy Midstream’s website,
. A digital recording of the call will be available for one week following the call by dialing 1-855-859-2056 and entering the pass code 46673488.
About Inergy Midstream, L.P.
Inergy Midstream, L.P., headquartered in Kansas City, Missouri, is a master limited partnership engaged in the development and operation of natural gas and NGL storage and transportation assets. Our assets are located in the Northeast region of the United States.