Tallgrass increases quarterly distribution for sixth consecutive quarter
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
World Pipelines,
Tallgrass Energy Partners, LP (TEP) has announced that the Board of Directors of its general partner declared a quarterly cash distribution to partners of US$0.485 per common unit for 4Q14, or US$1.94 on an annualised basis. This represents a 54% increase from 4Q13 and an 18.3% sequential increase from the 3Q14 distribution of US$0.41. It is TEP’s sixth consecutive increase since its IPO in May 2013.
In addition, the distribution increase of US$0.075 is 7% higher than the minimum increase management had expected to recommend for the fourth quarter as a result of the September acquisition of a 33.3% interest in the Tallgrass Pony Express Pipeline. The quarterly distribution will be paid on 13 February 2015 to unitholders of record as of the close of business on 26 January 2015.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldpipelines.com/business-news/06012015/tallgrass-increases-quarterly-distribution-for-sixth-consecutive-quarter-13/
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