Energy Transfer Partners, L.P. (ETP) has announced its quarterly cash distribution for 1Q17 of US$0.535 per common unit (US$2.14 on an annualised basis).
This cash distribution will be paid on 15 May 2017 to unitholders of record as of the close of business on 10 May 2017.
ETP has also completed its merger with a subsidiary of Sunoco Logistics Partners L.P. (SXL), with ETP continuing as the surviving entity and becoming a wholly owned subsidiary of SXL.
SXL has changed its name to Energy Transfer Partners, L.P. Upon closing of the merger, all ETP unitholders received, for each ETP common unit held, 1.50 common units of SXL. SXL common units began trading on the New York Stock Exchange on 1 May under the ticker symbol ‘ETP’. This distribution announcement is the first for the combined partnerships following the merger.
ETP expects to release earnings for 1Q17 tomorrow, 3 May, after the market closes. ETP and Energy Transfer Equity, L.P., which owns the general partner of ETP, will conduct a joint conference call on 4 May 2017 at 8 am (CT) to discuss their quarterly results. The conference call will be broadcast live via an internet webcast. The call will also be available for replay for a limited time.
Read the article online at: https://www.worldpipelines.com/business-news/02052017/etp-announces-1q17-cash-distribution/