Distribution per Unit Up 16% Compared to Same Period Last Year
Earnings Release and Earnings Call Dates Also Announced
DALLAS--(BUSINESS WIRE)--Jul. 24, 2014--
Energy Transfer Equity, L.P.(NYSE:
ETE) today announced that its Board of Directors has approved a
$0.02125 increase in its quarterly cash distribution to $0.38 per ETE
common unit for the second quarter ended June 30, 2014, or $1.52 per
unit on an annualized basis.
Adjusting for the ETE unit split completed in January 2014, the
quarterly distribution of $0.38 per ETE common unit represents a unit
distribution increase of 16% on an annualized basis compared to the
second quarter of 2013. This also represents an annualized distribution
increase of $0.085 per common unit, or 5.9%, compared to the first
quarter of 2014 and marks the seventh consecutive quarter that ETE has
raised its distribution. The cash distribution will be paid on August
19, 2014 to unitholders of record as of the close of business on August
4, 2014.
ETE plans to release earnings for the second quarter 2014 on Wednesday,
August 6, 2014, after the market closes. ETE and its subsidiary, Energy
Transfer Partners, L.P. (NYSE: ETP), will conduct a joint conference
call on Thursday, August 7, 2014 at 8:30 a.m. Central Time to discuss
quarterly results. During the scheduled time of the conference call, a
live webcast will be available on Energy Transfer’s web site at www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web site
for a limited time.
The following information applies to ETE’s quarterly distribution
announcement:
Record Date: August 4, 2014
Ex-Date: July 31, 2014
Payment
Date: August 19, 2014
Amount Paid: $0.38 per common unit
Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited
partnership which owns the general partner and 100% of the incentive
distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE:
ETP), approximately 30.8 million ETP common units, and approximately
50.2 million ETP Class H Units, which track 50% of the underlying
economics of the general partner interest and IDRs of Sunoco Logistics
Partners L.P. (NYSE: SXL). ETE also owns the general partner and 100% of
the IDRs of Regency Energy Partners LP (NYSE: RGP) and approximately
57.2 million RGP common units. On a consolidated basis, ETE’s family of
companies owns and operates approximately 71,000 miles of natural gas,
natural gas liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 35,000 miles of natural gas and natural gas
liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company,
LP (the successor of Southern Union Company) and Sunoco, Inc., and a 70%
interest in Lone Star NGL LLC, a joint venture that owns and operates
natural gas liquids storage, fractionation and transportation assets.
ETP also owns the general partner, 100% of the incentive distribution
rights, and approximately 33.5 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling and
crude oil acquisition and marketing assets. ETP’s general partner is
owned by ETE. For more information, visit the Energy Transfer Partners,
L.P. web site at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnerships’ Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnerships undertake no obligation to update or revise
any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for
under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Energy Transfer Partners, L.P.’s and Energy Transfer
Equity, L.P.’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, all of Energy Transfer Partners, L.P.’s and
Energy Transfer Equity, L.P.’s distributions to foreign investors are
subject to federal tax withholding at the highest applicable effective
tax rate. Nominees are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
The information contained in this press release is available on our web
site at www.energytransfer.com.
Source: Energy Transfer Equity, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0700
or
Media
Relations:
Granado Communications Group
Vicki Granado,
214-599-8785
214-498-9272 (cell)