Dominion Midstream Partners, LP has reported unaudited net income of US$24.3 million that is attributable to the partnership. This is equivalent to 30 cents per common limited partner unit for the three months ending on 30 September 2016.
On 21 October, the company’s board of directors declared a quarterly distribution of US$0.2475 per unit, payable on 15 November to unitholders of record at the close of business 4 November.
Earnings before interest, income taxes, depreciation and amortisation (adjusted EBITDA) was US$27.9 million. Moreover, distributable cash flow was US$24.1 million for 3Q16.
Dominion Midstream uses adjusted EBITDA and distributable cash flow as its primary performance measurements of its earnings and results for public communications with analysts and investors. The company also uses adjusted EBITDA and distributable cash flow internally for budgeting, reporting to the board of directors and other purposes.Dominion’s management personnel believe adjusted EBITDA and distributable cash flow provide a more meaningful representation of the company's financial performance and liquidity.
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