Market Overview

Energy Transfer Partners Announces Quarterly Cash Distribution on Series C Preferred Units

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Energy Transfer Partners, L.P. (NYSE:ETPtoday
announced the initial pro-rated quarterly cash distribution
of $0.56337 per Series C Fixed-to-Floating Rate Cumulative Redeemable
Perpetual Preferred Units (liquidation preference $25 per Series C
unit), which amount is attributable to the partial period from and
including the date of original issue. This cash distribution will be
paid on August 15, 2018 to preferred unitholders of record as of the
close of business on August 1, 2018.

Energy Transfer Partners, L.P. (NYSE:ETP) is a master
limited partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, ETP
owns and operates a geographically diverse portfolio of complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and various
acquisition and marketing assets. ETP's general partner is owned
by Energy Transfer Equity, L.P. (NYSE:ETE). For more information, visit
the Energy Transfer Partners, L.P. website at energytransfer.com.

This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management's
control. An extensive list of factors that can affect future results are
discussed in the Partnership's Annual Report on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or revise
any forward-looking statement to reflect new information or events.

This release serves as qualified notice to nominees as provided for
under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Energy Transfer Partners, L.P.'s distributions to
foreign investors are attributable to income that is effectively
connected with a United States trade or business. Accordingly, all of
Energy Transfer Partners, L.P.'s distributions to foreign investors are
subject to federal tax withholding at the highest applicable effective
tax rate. Nominees, and not Energy Transfer Partners, L.P., are treated
as withholding agents responsible for withholding distributions received
by them on behalf of foreign investors.

The information contained in this press release is available on our
website at energytransfer.com.

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