Enterprise Announces 19th Consecutive
Quarterly
Cash Distribution Increase
HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.5375 per common unit, or $2.15 per unit on an annualized basis. The quarterly distribution will be paid on Friday, May 8, 2009, to unitholders of record at the close of business on Thursday, April 30, 2009. This distribution represents a 5.9 percent increase compared to the $0.5075 per unit quarterly distribution declared with respect to the first quarter of 2008.
This represents the 28th distribution increase since Enterprise’s initial public offering in 1998 and its 19th consecutive quarterly increase.
Enterprise will announce its first quarter 2009 earnings on Monday, April 27, 2009, before the New York Stock Exchange opens for trading. Following the announcement, the company will host a conference call at 9 a.m. CDT with analysts and investors to discuss first quarter 2009 earnings. The call will be broadcast live on the Internet and may be accessed at the company’s website, www.epplp.com.
To listen to the webcast, participants should access the “Investor Relations” section of the company’s website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and can be accessed one hour after the completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly traded energy partnerships and is a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and petrochemicals through more than 36,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services; and petrochemical transportation and storage. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE: EPE). For more information on Enterprise GP Holdings L.P., visit www.enterprisegp.com.
