DCP Midstream Partners Announces Quarterly Distribution
DENVER, Jan. 28, 2016 (GLOBE NEWSWIRE) -- DCP Midstream Partners, LP (NYSE:DPM) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.78 per common unit for the quarter ended December 31, 2015, or $3.12 per unit on an annualized basis. This distribution remains unchanged from the previous quarter and from the fourth quarter of 2014. This quarterly cash distribution will be paid February 12, 2016, to unitholders of record at the close of business on February 8, 2016.
This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
ABOUT DCP MIDSTREAM PARTNERS, LP DCP Midstream Partners, LP (NYSE:DPM) is a midstream master limited partnership engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate; and transporting, storing and selling propane in wholesale markets. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LP, which in turn is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC, a joint venture between Phillips 66 and Spectra Energy. For more information, visit the DCP Midstream Partners, LP website at www.dcppartners.com.
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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