The Board of Directors of CPP GP LLC, as general partner of Columbia Pipeline Partners LP, a Columbia Pipeline Group, Inc. company, Columbia Pipeline Group company has approved a quarterly distribution payment of US$0.18 per unit for CPPL, payable on 19 February, 2016, to both common and subordinated unit holders of record at the close of business on 11 February, 2016.
This distribution represents an approximately 4.3% increase over the prior quarter's distribution of US$0.1725 per unit.
"Despite the prolonged dislocation of the financial markets, the fundamentals for Columbia Pipeline Partners are as strong as ever," said Robert C. Skaggs Jr., Chairman and Chief Executive Officer of CPP GP LLC, the general partner of CPPL.
"Our footprint, growth profile and robust liquidity levels continue to distinguish CPPL and are expected to drive 20% annual distribution growth through 2020, as measured by the distribution paid in the fourth quarter of each calendar year," said Skaggs.
Columbia Pipeline Partners LP
Columbia Pipeline Partners LP, based in Houston, Texas, is a fee-based, growth-oriented master limited partnership formed to own, operate and develop a growing portfolio of natural gas pipelines, storage and related midstream assets.
Columbia Pipeline Partners' business and operations are conducted through CPG OpCo LP and its subsidiaries, which own and operate substantially all of the natural gas transmission, storage and midstream assets of Columbia Pipeline Group, Inc.
Columbia Pipeline Group operates approximately 15 000 miles of strategically located interstate pipelines extending from New York to the Gulf of Mexico, one of the nation's largest underground natural gas storage systems, and a growing portfolio of related gathering and processing assets.
Edited from source by Elizabeth Corner
Read the article online at: https://www.worldpipelines.com/business-news/01022016/columbia-pipeline-partners-lp-announces-quarterly-distribution/