Williams Partners L.P has recently announced its 2Q16 financial results. This included strong cash flow from operations and affirmed that the partnership intends to maintain its quarterly cash distribution of US$0.85 per unit, or US$3.40 annualised, in 2017, with planned distribution growth beyond.
The partnership also reported the actions it is taking to strengthen its position as the premier provider of large-scale natural gas infrastructure by maintaining a healthy credit profile, increasing its financial flexibility and driving long-term growth.
- Below is a summary of key points:
- Cash flow from operations totalled approximately US$741 million for 2Q16, US$1.665 billion year-to-date, up approximately 12% over 1H15.
- Significant cost reductions have been achieved in 2Q16.
- The organisation expects to maintain quarterly cash distribution of US$0.85 per unit in 2017 and to implement a distribution re-investment programme (DRIP).
- Williams intends to re-invest approximately US$1.7 Billion into Williams Partners in 2017.
- A planned asset sale is on track to close in 2H16
Adapted from press release by Anna Nicklin
Read the article online at: https://www.worldpipelines.com/business-news/02082016/williams-partners-announces-2q16-results/