Distribution per Unit Up More Than 23% Compared to Same Period Last
Year
Earnings Release and Earnings Call Dates Also Announced
DALLAS--(BUSINESS WIRE)--Oct. 21, 2014--
Energy Transfer Equity, L.P. (NYSE: ETE) today announced that its
Board of Directors has approved a $0.035 increase in its quarterly cash
distribution to $0.415 per ETE common unit for the third quarter ended
September 30, 2014, or $1.66 per unit on an annualized basis.
Adjusting for the ETE unit split completed in January 2014, the
quarterly distribution of $0.415 per ETE common unit represents a unit
distribution increase of 23.4% on an annualized basis compared to the
third quarter of 2013. This also represents an annualized distribution
increase of $0.14 per common unit, or 9.2%, compared to the second
quarter of 2014 and marks the eighth consecutive quarter that ETE has
raised its distribution. The cash distribution will be paid on November
19, 2014 to unitholders of record as of the close of business on
November 3, 2014.
ETE plans to release earnings for the third quarter of 2014 on
Wednesday, November 5, 2014, after the market closes. ETE and its
subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will conduct a
joint conference call on Thursday, November 6, 2014 at 8:00 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:
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November 3, 2014
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Ex-Date:
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October 30, 2014
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Payment Date:
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November 19, 2014
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Amount Paid:
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$0.415 per common unit
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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 also owns 100% of Panhandle Eastern Pipe Line
Company, LP (the successor of Southern Union Company) 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 67.1 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 also owns 100% of Sunoco, Inc. and
100% of Susser Holdings Corporation. Additionally ETP owns the general
partner, 100% of the incentive distribution rights and approximately 58%
of the limited partnership interests in Susser Petroleum Partners LP
(NYSE: SUSP). 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 Partnership’s Annual Report on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes 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 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 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
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0700
or
Media
Relations:
Granado Communications Group
Vicki Granado,
214-599-8785
214-498-9272 (cell)