Increases Quarterly Distribution to $0.6925 per Unit on Pre-Split
Basis
Momentum Continues Across the Entire Family of Partnerships
DALLAS--(BUSINESS WIRE)--Jan. 28, 2014--
Energy Transfer Equity, L.P. (NYSE:
ETE) (“ETE” or the “Partnership”) today announced that
its Board of Directors has approved a quarterly distribution increase of
$0.02 per ETE common unit on a pre-split basis ($0.01 per ETE common
unit on a post-split basis) for the quarter ended December 31, 2013.
ETE recently announced the completion of its two-for-one split of the
Partnership’s outstanding common units, resulting in ETE outstanding
common units doubling to approximately 560 million units. Therefore, the
increase in the quarterly distribution is $0.01 per ETE common unit on a
post-split basis. ETE unitholders will be paid the quarterly
distribution on the post-split basis.
The ETE Board of Directors has approved an increase in its quarterly
distribution to $0.6925 per unit on a pre-split basis ($0.34625 on a
post-split basis) on ETE common units for the quarter ended December 31,
2013. This is the fifth consecutive quarter that ETE has raised its
distribution. The cash distribution will be paid on February 19, 2014 to
unitholders of record as of the close of business on February 7, 2014.
ETE and its subsidiary, Energy Transfer Partners, L.P. (NYSE:ETP),
expect to release earnings for the quarter ended December 31, 2013 on
Wednesday, February 19, 2014, after the market closes. ETE and ETP will
conduct a joint conference call on Thursday, February 20, 2014 at 8:30
a.m. Central Time to discuss their quarterly results. The conference
call will be broadcast live via an internet web cast, which can be
accessed through www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web site
for a limited time.
Company: Energy Transfer Equity, L.P. (NYSE:
ETE)
Record Date: February 7, 2014
Ex-Date:
February 5, 2014
Payment Date: February 19, 2014
Amount
Paid: $0.34625 per Common Unit
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.
(NYSE: ETP), approximately 49.6 million ETP common units, and
approximately 50.2 million ETP Class H Units, which track 50% of the
underlying economics of the general partner interest and IDRs of Sunoco
Logistics Partners L.P. (NYSE: SXL). ETE also owns the general partner
and 100% of the IDRs of Regency Energy Partners LP (NYSE: RGP) and
approximately 26.3 million RGP common units. The Energy Transfer family
of companies owns more than 56,000 miles of natural gas, natural gas
liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 35,000 miles of natural gas and natural gas
liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company,
LP (the successor of Southern Union Company) and Sunoco, Inc., and a 70%
interest in Lone Star NGL LLC, a joint venture that owns and operates
natural gas liquids storage, fractionation and transportation assets.
ETP also owns the general partner, 100% of the incentive distribution
rights, and approximately 33.5 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling and
crude oil acquisition and marketing assets. ETP’s general partner is
owned by ETE. For more information, visit the Energy Transfer Partners,
L.P. web site at www.energytransfer.com.
Regency Energy Partners LP (NYSE: RGP)
is a growth-oriented, midstream energy partnership engaged in the
gathering and processing, contract compression, treating and
transportation of natural gas and the transportation, fractionation and
storage of natural gas liquids. RGP also holds a 30% interest in Lone
Star NGL LLC, a joint venture that owns and operates natural gas liquids
storage, fractionation, and transportation assets in Texas, Louisiana
and Mississippi. Regency’s general partner is owned by Energy Transfer
Equity, L.P. (NYSE:ETE). For more information, visit the Regency Energy
Partners LP web site at www.regencyenergy.com.
Sunoco Logistics Partners L.P.(NYSE: SXL), headquartered
in Philadelphia, is a master limited partnership that owns and operates
a logistics business consisting of a geographically diverse portfolio of
complementary crude oil and refined product pipeline, terminalling, and
acquisition and marketing assets. SXL’s general partner is owned by
Energy Transfer Partners, L.P. (NYSE: ETP). For more information, visit
the Sunoco Logistics Partners, L.P. web site at www.sunocologistics.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnerships’ Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnerships undertake no obligation to update or revise
any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for
under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Energy Transfer Partners, L.P.’s and Energy Transfer
Equity, L.P.’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, all of Energy Transfer Partners, L.P.’s and
Energy Transfer Equity, L.P.’s distributions to foreign investors are
subject to federal tax withholding at the highest applicable effective
tax rate. Nominees are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
The information contained in this press release is available on our web
site at www.energytransfer.com.
Source: Energy Transfer Equity, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
214-498-9272
(cell)