Enable Midstream Partners, LP (NYSE:ENBL) announced today that the board
of directors of its general partner declared a quarterly cash
distribution of $0.3180 per unit on all outstanding common and
subordinated units for the quarter ended Mar. 31, 2016. The distribution
is unchanged from the previous quarter and represents an increase of
approximately 2 percent from the partnership’s first quarter 2015
distribution.
Enable also announced today that the board declared a prorated quarterly
cash distribution of $0.2917 per unit on the partnership’s 10.00% Series
A Fixed-to-Floating Non-Cumulative Redeemable Perpetual Preferred Units
(Series A Preferred Units) for the quarter ended Mar. 31, 2016. The
quarterly distribution for the Series A Preferred Units is for a partial
period beginning on Feb. 18, 2016, and ending on Mar. 31, 2016, which
equates to $0.625 per unit on a full-quarter basis or $2.50 per unit on
an annualized basis.
The distributions for the common, subordinated and Series A Preferred
units will be paid May 13, 2016, to unitholders of record at the close
of business on May 6, 2016.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and
crude oil infrastructure assets. Enable’s assets include approximately
12,400 miles of gathering pipelines, 13 major processing plants with
approximately 2.3 billion cubic feet per day of processing capacity,
approximately 7,900 miles of interstate pipelines (including Southeast
Supply Header, LLC of which Enable owns 50 percent), approximately 2,200
miles of intrastate pipelines and eight storage facilities comprising
85.0 billion cubic feet of storage capacity. For more information, visit
EnableMidstream.com.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent (100.0%) of Enable Midstream’s distributions to foreign
investors as being attributable to income that is effectively connected
with a United States trade or business. Accordingly, the partnership’s
distributions to foreign investors are subject to federal income tax
withholding at the highest applicable effective tax rate. Brokers and
nominees, and not the Partnership, are treated as the withholding agents
responsible for withholding on the distributions received by them on
behalf of foreign investors.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the
meaning of the securities laws. All statements, other than statements of
historical fact, regarding Enable Midstream Partners’ (“Enable”)
strategy, future operations, financial position, estimated revenues,
projected costs, prospects, plans and objectives of management are
forward-looking statements. These statements often include the words
“could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” “forecast” and similar expressions and are intended to
identify forward-looking statements, although not all forward-looking
statements contain such identifying words. These forward-looking
statements are based on Enable’s current expectations and assumptions
about future events and are based on currently available information as
to the outcome and timing of future events. Enable assumes no obligation
to and does not intend to update any forward-looking statements included
herein. When considering forward-looking statements, which include
statements regarding future commodity prices, the closing of the private
sale of perpetual preferred units, future capital expenditures and our
financial and operational outlook for 2016, among others, you should
keep in mind the risk factors and other cautionary statements described
under the heading “Risk Factors” and elsewhere in our SEC filings.
Enable cautions you that these forward-looking statements are subject to
all of the risks and uncertainties, most of which are difficult to
predict and many of which are beyond its control, incident to the
ownership, operation and development of natural gas and crude oil
infrastructure assets. These risks include, but are not limited to,
contract renewal risk, commodity price risk, environmental risks,
operating risks, regulatory changes and the other risks described under
“Risk Factors” and elsewhere in our SEC filings. Should one or more of
these risks or uncertainties occur, or should underlying assumptions
prove incorrect, Enable’s actual results and plans could differ
materially from those expressed in any forward-looking statements.
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