Increases Quarterly Distribution to $0.53 per Unit on a Pre-Split
Basis ($0.265 per Unit on a Post-Split Basis)
Distribution per Unit up over 39% Compared to Same Period Last Year
Earnings Release and Earnings Call Dates Also Announced
DALLAS--(BUSINESS WIRE)--Jul. 23, 2015--
Energy Transfer Equity, L.P. (NYSE: ETE) (“ETE” or “Partnership”)
today announced a $0.04 increase in its quarterly cash distribution to
$0.53 per ETE common unit on a pre-split basis ($0.02 per ETE common
unit to $0.265 on a post-split basis) for the second quarter ended June
30, 2015. Annualized, the increase equates to $2.12 per ETE common unit
on a pre-split basis and $1.06 per ETE Common unit on a post-split basis.
ETE previously announced a two-for-one split (“Unit Split”) of the
Partnership’s common units that is scheduled to be completed tomorrow.
As a result of the Unit Split, the number of outstanding ETE common
units will double. Therefore, the increase in the quarterly distribution
will be $0.02 to $0.265 per ETE common unit on a post-split basis. Since
the record date for distributions is after the completion of the Unit
Split, ETE unitholders will be paid the quarterly distribution on a
post-split basis.
The pre-split quarterly distribution of $0.53 per ETE common unit
represents an increase of more than 39% on an annualized basis compared
to the second quarter of 2014 and an increase of $0.16 per ETE common
unit, or 8.2%, compared to the first quarter of 2015. Adjusting for the
Unit Split, this marks the eleventh consecutive quarter that ETE has
raised its distribution. The cash distribution will be paid on August
19, 2015, to unitholders of record as of the close of business on August
6, 2015.
ETE plans to release earnings for the second quarter of 2015 on
Wednesday, August 5, 2015, after the market closes. ETE and its
subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will conduct a
joint conference call on Thursday, August 6, 2015, 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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August 6, 2015
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Ex-Date:
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August 4, 2015
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Payment Date:
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August 19, 2015
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Amount Paid:
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$0.265 per common unit (post-split basis)
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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 23.6 million ETP common units, approximately 81.0
million ETP Class H Units, which track 90% of the underlying economics
of the general partner interest and IDRs of Sunoco Logistics Partners
L.P. (NYSE: SXL), and 100 ETP Class I 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. website 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’s subsidiaries
include Panhandle Eastern Pipe Line Company, LP (the successor of
Southern Union Company) and Lone Star NGL LLC, which owns and operates
natural gas liquids storage, fractionation and transportation assets. In
total, ETP currently owns and operates more than 62,000 miles of natural
gas and natural gas liquids pipelines. 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 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 44% of the
limited partner interests in Sunoco LP (formerly Susser Petroleum
Partners LP) (NYSE: SUN), a wholesale fuel distributor and convenience
store operator. ETP’s general partner is owned by Energy Transfer
Equity, L.P. (NYSE: ETE). For more information, visit the Energy
Transfer Partners, L.P. website 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006546/en/
Source: Energy Transfer Equity, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff, 214-981-0700
or
Lyndsay
Hannah, 214-840-5477
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
214-498-9272
(cell)