Enterprise Increases Quarterly Distribution
07.11.2022 By Ricardo Perez - NEWS

July 11, 2022 [BusinessWire] – Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared the quarterly cash distribution paid to limited partners holding Enterprise common units with respect to the second quarter of 2022 of $0.475 per unit, or $1.90 per unit on an annualized basis.

 

The quarterly distribution will be paid Friday, August 12, 2022, to common unitholders of record as of the close of business Friday, July 29, 2022. This distribution represents a 5.6 percent increase over the distribution declared with regard to the second quarter of 2021.

This distribution increase is the partnership’s 74th distribution increase since its initial public offering in 1998. This year will be the 24th consecutive year of distribution growth. During the second quarter of 2022, Enterprise repurchased $35 million of its common units in the open market. Inclusive of these purchases, the partnership has utilized 26 percent of its authorized $2.0 billion buyback program.

Enterprise will announce its earnings for the second quarter of 2022 on Wednesday, August 3, 2022, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CDT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the “Investors” section of the partnership’s website at www.enterpriseproducts.com. A replay of the webcast will be available for one week following the conference call and may be accessed approximately one hour after completion of the call.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage and marine terminals; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets currently include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.

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