Energy Transfer Equity Announces Seventh Consecutive Quarterly Cash Distribution Increase, Raises $0.02125 To $0.38
Energy Transfer Equity, L.P. (NYSE: ETE) today announced that its Board of Directors has approved a $0.02125 increase in its quarterly cash distribution to $0.38 per ETE common unit for the second quarter ended June 30, 2014, or $1.52 per unit on an annualized basis.
Adjusting for the ETE unit split completed in January 2014, the quarterly distribution of $0.38 per ETE common unit represents a unit distribution increase of 16% on an annualized basis compared to the second quarter of 2013. This also represents an annualized distribution increase of $0.085 per common unit, or 5.9%, compared to the first quarter of 2014 and marks the seventh consecutive quarter that ETE has raised its distribution. The cash distribution will be paid on August 19, 2014 to unitholders of record as of the close of business on August 4, 2014.
ETE plans to release earnings for the second quarter 2014 on Wednesday, August 6, 2014, after the market closes. ETE and its subsidiary, Energy Transfer Partners, L.P. (NYSE: ETP), will conduct a joint conference call on Thursday, August 7, 2014 at 8:30 a.m. Central Time to discuss quarterly results. During the scheduled time of the conference call, a live webcast will be available on Energy Transfer's web site at www.energytransfer.com. The call will also be available for replay on Energy Transfer's web site for a limited time.
The following information applies to ETE's quarterly distribution announcement:
Record Date: August 4, 2014
Ex-Date: July 31, 2014
Payment Date: August 19, 2014
Amount Paid: $0.38 per common unit
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