Please turn to Slide 4. Last night we announced a distribution increase of 2.1% compared to the prior quarterly rate, which equates to an annualized cash distribution of $2.17. The distribution increase is in line with our annual distribution growth target of 2% to 5%.Although, current new distribution coverage is forecast to be short of our long-term target, we are confident that the current slate of growth projects will increase distributable cash flows, once they are placed in service. Our degree of confidence and future cash flows from these secured projects is very high. And for that reason, we feel it is appropriate to demonstrate that confidence in the long-term with an increase in our current distribution. We will touch on our secured organic growth programs in a moment.
Enbridge Energy Partners' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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