Copano Energy Maintains Quarterly Cash Distribution
Copano Energy (NASDAQ: CPNO) announced Wednesday a cash distribution for the second quarter of 2012 of $0.575 per unit, or $2.30 per unit on an annualized basis, for all of its outstanding common units. This distribution will be payable on August 9, 2012, to holders of record of common units at the close of business on July 31, 2012.
"Copano will maintain its $0.575 quarterly distribution to unitholders," said R. Bruce Northcutt, President and Chief Executive Officer of Copano. "We expect that our second quarter distribution coverage will be significantly higher than our first quarter coverage but less than 100% due primarily to the effect of lower commodity prices.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.