Enable Midstream Announces Distribution Reinvestment Plan and Update to Quarterly Distribution Payment Date
Enable Midstream Partners, LP (NYSE: ENBL) announced today that a
Distribution Reinvestment Plan (the “Plan”) for owners of its common and
subordinated units is open for enrollment. The Plan became effective on
June 23, 2016, with Enable’s filing of its Form S-3 registration
statement with the Securities and Exchange Commission (“SEC”), and the
Plan will commence with the quarterly distribution for the quarter
ending September 30, 2016.
Under the Plan, registered unitholders may invest all or a portion of
their cash distributions in Enable’s common units. A registered
unitholder is a unitholder whose name is recorded on the partnership’s
register as the person who has the rights, benefits and responsibilities
of ownership. If a unitholder owns common or subordinated units that are
registered in someone else’s name (for example, a bank, broker or
trustee), the Plan allows such unitholder to participate through this
person, should they elect to participate, without having to withdraw
units from the bank, broker or trustee.
If a broker or bank elects not to participate in the Plan on a
unitholder’s behalf, they may have a program with their direct accounts
that has a similar effect. Unitholders should contact their broker or
bank directly for information on these programs. Otherwise, unitholders
can participate by withdrawing common units from a bank or broker and
registering the common or subordinated units in the unitholder’s name.
Participation in the Plan is voluntary, and if a unitholder elects to
participate, the unitholder may terminate participation in the Plan at
any time (subject to restrictions following a relevant record date).
Enable has appointed Wells Fargo Shareowner Services, a division of
Wells Fargo Bank, N.A., to administer the Plan (the “Administrator”).
Unitholders can enroll online by following the enrollment procedures
specified on the Administrator’s website at shareowneronline.com
or by completing and signing an Account Authorization Card and returning
it to the Administrator.
Unitholders should read carefully the prospectus describing the Plan
before deciding to participate in the Plan. A copy of the Plan’s
prospectus can be found under the SEC Filings section of Enable’s
investor relations website at http://investors.enablemidstream.com/.
Enable also announced today that it has amended its partnership
agreement to provide that common and subordinated unitholders’ quarterly
distribution payments will be made within 60 days after the end of each
quarter. Enable’s partnership agreement previously provided that common
and subordinated unitholders’ quarterly distribution payments would be
made within 45 days after the end of each quarter. The change to the
distribution payment date will be effective for the quarterly
distribution for the quarter ending June 30, 2016. The common and
subordinated unitholders’ quarterly distribution payments are subject to
the payment of the quarterly distributions to holders of Enable’s Series
A Preferred Units (“Preferred Units”). No changes were made to the
timing of distributions on the Preferred Units.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the common units described in this news
release, nor shall there be any sale of these common units in any state
or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offer is being made only through an
effective registration statement on Form S-3, including the prospectus
contained therein, that was filed with the SEC on June 23, 2016, and
became immediately effective.
AVAILABLE INFORMATION
Enable files annual, quarterly and other reports and other information
with the U.S. Securities and Exchange Commission (SEC). Any materials
Enable files with the SEC are available to read and copy at the SEC’s
Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549.
Please call the SEC at 1-800-732-0330 for further information on their
Public Reference Room. Enable’s SEC filings are also available at the
SEC’s website at http://www.sec.gov
which contains information regarding issuers that file electronically
with the SEC. Information about Enable may also be obtained at the
offices of the NYSE, 20 Broad Street, New York, New York 10005, or on
Enable’s website at www.enablemidstream.com.
On the investor relations tab of Enable’s website, http://investors.enablemidstream.com/,
Enable makes available free of charge a variety of information to
investors. Enable’s goal is to maintain the investor relations tab of
its website as a portal through which investors can easily find or
navigate to pertinent information about Enable, including but not
limited to:
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Enable’s annual report on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K, and any amendments to those reports as
soon as reasonably practicable after Enable electronically files that
material with or furnish it to the SEC;
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press releases on quarterly distributions, quarterly earnings, and
other developments;
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governance information, including Enable’s governance guidelines,
committee charters, and code of ethics and business conduct;
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information on events and presentations, including an archive of
available calls, webcasts, and presentations;
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news and other announcements that Enable may post from time to time
that investors may find useful or interesting; and
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opportunities to sign up for email alerts and RSS feeds to have
information pushed in real time.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and
crude oil infrastructure assets. Enable’s assets include approximately
12,400 miles of gathering pipelines, 13 major processing plants with
approximately 2.3 billion cubic feet per day of processing capacity,
approximately 7,900 miles of interstate pipelines (including Southeast
Supply Header, LLC of which Enable owns 50 percent), approximately 2,200
miles of intrastate pipelines and eight storage facilities comprising
85.0 billion cubic feet of storage capacity. For more information, visit
EnableMidstream.com.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the
meaning of the securities laws. All statements, other than statements of
historical fact, regarding the commencement of the Plan and the payment
and timing of future distributions are forward-looking statements. These
statements often include the words “could,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project,” “forecast” and similar
expressions and are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying
words. These forward-looking statements are based on Enable Midstream’s
current expectations and assumptions about future events and are based
on currently available information as to the outcome and timing of
future events. Enable Midstream assumes no obligation to and does not
intend to update any forward-looking statements included herein. When
considering forward-looking statements, you should keep in mind the risk
factors and other cautionary statements described under the heading
“Risk Factors” included in our SEC filings. Enable Midstream cautions
you that these forward-looking statements are subject to all of the
risks and uncertainties, most of which are difficult to predict and many
of which are beyond its control, incident to the ownership, operation
and development of natural gas and crude oil infrastructure assets.
These risks include, but are not limited to, contract renewal risk,
commodity price risk, environmental risks, operating risks, regulatory
changes and the other risks described under “Risk Factors” in our SEC
filings. Should one or more of these risks or uncertainties occur, or
should underlying assumptions prove incorrect, Enable Midstream’s actual
results and plans could differ materially from those expressed in any
forward-looking statements.
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