On January 14, 2013, we announced that the Board of Directors of Enterprise’s general partner approved an increase in the partnership’s quarterly cash distribution rate with respect to the fourth quarter of 2012 to $0.66 per unit, representing a 6.5 percent increase over the $0.62 per unit rate that was paid with respect to the fourth quarter of 2011. Enterprise generated distributable cash flow of $886 million for the fourth quarter of 2012 compared to $1.4 billion for the fourth quarter of 2011. Distributable cash flow for the fourth quarter of 2012 included $31 million of net proceeds from the sale of assets, while distributable cash flow for the fourth quarter of 2011 included $593 million of cash proceeds from the sale of assets.Enterprise’s distributable cash flow for the fourth quarter of 2012 provided 1.5 times coverage of the cash distributions that will be paid on February 7, 2013 to unitholders of record on January 31, 2013. The partnership retained approximately $308 million of cash flow for the fourth quarter of 2012, which is available to reinvest in growth capital projects, reduce debt and decrease our need to issue additional equity.
Enterprise Reports Record Results For 2012
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