Inter Pipeline announces strong 1Q16 results
Published by Angharad Lock,
Digital Assistant Editor
World Pipelines,
Inter Pipeline has released its 1Q16 financial results, stating generated funds from operations totaling US$186 million (+5% y/y).
Other highlights include:
- FFO for bulk liquid storage recorded US$31 million (+53% y/y).
- Net 1Q16 income was US$105 million (US$0.31/share).
- Declared cash dividends of US%313 million (US$0.39/share).
- Quarterly payout ratio of 75%.
- Total pipeline throughput volumes remained strong, averaging 1 312 700 bpd.
- Completed construction of US$25 million diluent connection to the JACOS-Nexen Hangingstone project.
- Secured a long-term diluent supply connection agreement with Pembina Pipeline on the Polaris pipeline system.
- Entered into a long-term agreement to provide bitumen blend transportation service to the North West Redwater Sturgeon Refinery.
- Bulk liquid storage capacity utilisation averaged 98% for the quarter, an increase from 90% compared to 1Q15.
Read the article online at: https://www.worldpipelines.com/business-news/10052016/inter-pipeline-announces-strong-1q16-results-122/
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