Targa Resources announces increase in quarterly distribution

Targa Resources Corp. and Targa Resources Partners LP have announced their respective quarterly dividend and distribution for Q3 2014.

Targa Resources Corp. announced that its board of directors has declared a quarterly cash dividend of US$ 0.7325 per share, or US$ 2.93 per common share on an annualised basis, for Q3 2014. The approved dividend represents increases of approximately 6% over the previous quarter's dividend and 29% over the dividend for Q3 2013. This cash dividend will be paid on 17 November 2014 on all outstanding common shares to holders of record as of the close of business on 3 November 2014.

Targa Resources Partners LP announced that the board of directors of its general partner has declared a quarterly cash distribution of US$ 0.7975 per common unit, or US$ 3.19 per common unit on an annualised basis, for Q3 2014. The approved distribution represents increases of approximately 2% over the previous quarter's distribution and 9% over the distribution for Q3 2013. This cash distribution will be paid on 14 November 2014 on all outstanding common units to holders of record as of the close of business on 3 November 2014.

Adapted from press release by Rosalie Starling

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