Energy Industry
Industry: Email Alert RSS FeedENTERPRISE PRODUCTS PARTNERS L.P. UNITS WILL SPLIT TWO-FOR-ONE ON MAY 15
Hart's Petroleum Finance Week, March, 2002
Enterprise Products Partners L.P. (NYSE: EPD) directors of its general partner approved a two-for-one split of the Houston midstream energy partnerships units on May 15 to holders of record on April 30. Directors also increased Enterprise's annual cash distribution rate, on a pre-split basis, by 7.2 percent to $2.68 per unit, effective with 2001's distribution for the first quarter in May. Quarterly distributions will increase from 62.5 to 67 cents per unit on a pre- split basis. After the partnership units split, the annual cash distribution rate will be $1.34 per unit, or 33.5 cents on a quarterly basis.
"We are pleased to announce our sixth distribution increase over the last ten quarters and the first two-for-one split of our partnership units," O.S. "Dub" Andras,...
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