This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Inergy Completes Distribution Of Inergy Midstream Units To Unitholders

Inergy, L.P. (NYSE: NRGY) (Inergy), announced today that it has completed the previously announced distribution on a pro rata basis to Inergy unitholders of record on the record date of the approximately 56.4 million common units of Inergy Midstream, L.P. (NYSE: NRGM) (NRGM) previously held by Inergy.

In connection with the distribution of the NRGM common units, each Inergy unitholder of record on the record date of June 14, 2013, received 0.432052 NRGM common units for each Inergy unit representing limited partner interests held by such unitholder (the NRGM Unit Distribution). No fractional NRGM common units were distributed. Each Inergy unitholder that would have been entitled to receive a fractional unit in the NRGM Unit Distribution received a cash payment equal to the value of such fractional unit based on the closing price of NRGM’s common units, as quoted on the New York Stock Exchange (NYSE), on June 17, 2013.

Trading of NRGY Units

Inergy common units trading on the NYSE will be quoted “ex-distribution” at the market open today; and thus, the Inergy common unit price is expected to reflect the market value of the NRGM units that were distributed directly to Inergy unitholders.

Composition of Future Inergy Cash Distributions

Inergy unitholders, subject to board approval, should expect to continue to receive total quarterly cash distributions per Inergy common unit in the amount of $0.29 per quarter ($1.16 annualized) or more, comprised of separate cash distributions received directly from NRGM and directly from Inergy. Based upon the most recently declared quarterly cash distribution of $0.395 per NRGM common unit ($1.58 annualized), Inergy unitholders who receive the NRGM Unit Distribution described above are expected to receive quarterly cash distributions paid by NRGM per quarter in the amount of $0.17 ($0.68 annualized) per Inergy common unit they own.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,947.24 +27.65 0.16%
S&P 500 1,981.35 -0.25 -0.01%
NASDAQ 4,522.3850 -5.1290 -0.11%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs