DALLAS--(BUSINESS WIRE)--Energy Transfer Partners, L.P. (NYSE: ETP) today announced that its new distribution reinvestment plan (the “Plan”) is now open for enrollment for owners of its common units. The Plan became effective with ETP’s filing of its Form S-3 registration statement with the Securities and Exchange Commission (“SEC”) on July 11, 2017.
Highlights of ETP’s Plan are:
- Both unitholders of record and beneficial owners of ETP’s common units may participate. Beneficial owners may participate by having their broker participate on their behalf.
- Additional common units may be purchased by reinvesting all or a portion of the cash distributions paid on the common units.
- Common units purchased through the Plan will be at a discount ranging from 0% to 5% (currently set at 2.50%) and an investor will not pay any service fees, brokerage trading fees or other charges. If investors participate in the Plan through their brokers, they should consult with their brokers; their brokers may charge a service fee for participating on their behalf.
Participation in the Plan is voluntary and if an owner of common units elects to participate in the Plan, the owner may terminate his or her participation in the Plan at any time. An owner should read carefully the prospectus describing the Plan before deciding to participate in the Plan.
Each registered owner of ETP’s common units will be receiving a prospectus and enrollment form by mail and may also obtain a prospectus and register online by visiting the shareholder account access section of American Stock Transfer’s website at www.astfinancial.com. For transaction requests, please contact American Stock Transfer & Trust Company, LLC (“AST”), the Plan Administrator, at the following address: American Stock Transfer & Trust Company, LLC, Wall Street Station, P.O. Box 922, New York, N.Y. 10269-0560. For all other correspondence regarding the Plan, please write to AST at the following address: American Stock Transfer & Trust Company, LLC, 6201 Fifteenth Avenue, Brooklyn, New York 11219. Investors may also call the Plan Administrator at 1-888-257-7340 (toll free from inside the United States or Canada) or 1-718-921-8124 (from outside the United States or Canada). Please include a reference to Energy Transfer Partners, L.P. in all correspondence.
Beneficial owners of ETP common units may learn more about the Plan by contacting their brokers for information describing the Plan. They may also obtain a prospectus by calling AST at 1-888-257-7340.
A complete description of the Plan is also included in ETP’s Form S-3 registration statement filed with the SEC on July 11, 2017.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the common units described in this press release, nor shall there be any sale of these common units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through the prospectus, which is part of ETP’s Form S-3 registration statement that became effective upon filing on July 11, 2017.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, ETP owns and operates a geographically diverse portfolio of complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. 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 energytransfer.com.
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 ETP’s Annual Reports on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.