Summit Midstream Partners, LP Announces Increased Second Quarter 2014 Distribution
Summit Midstream Partners, LP (NYSE: SMLP) announced today that the board of directors of its general partner, Summit Midstream GP, LLC, has declared a quarterly cash distribution of $0.52 per unit on all of its outstanding common and subordinated units, or $2.08 per unit on an annualized basis, for the quarter ended June 30, 2014. The distribution will be paid on August 14, 2014 to unitholders of record as of the close of business on August 7, 2014.
This quarterly distribution represents an increase of $0.085 per unit, or 19.5%, over the $0.435 per unit distribution paid for the quarter ended June 30, 2013 and an increase of $0.02 per unit, or 4.0%, over the $0.50 per unit distribution paid for the quarter ended March 31, 2014.
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 SMLP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, SMLP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
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