Enterprise Products Partners L.P. (NYSE: EPD) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.65 per common unit, or $2.60 per unit on an annualized basis. The quarterly distribution will be paid on Thursday, November 8, 2012, to unitholders of record as of the close of business on Wednesday, October 31, 2012. This distribution rate, which represents a 6.1 percent increase over the $0.6125 per unit distribution rate declared with respect to the third quarter of 2011, is the 42 nd distribution rate increase since Enterprise’s initial public offering in 1998 and the 33 rd consecutive quarterly increase.
Enterprise will announce its third quarter of 2012 earnings on Thursday, November 1, 2012, before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 9 a.m. CT with analysts and investors to discuss its third quarter earnings. The call will be broadcast live on the Internet and may be accessed at the company’s website, www.enterpriseproducts.com.
To listen to the webcast, participants should access the “Investors” section of the company’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and may be accessed one hour after completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership’s assets include approximately 50,700 miles of onshore and offshore pipelines; 190 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico.