Williams Partners L.P. (NYSE: WPZ) today announced a regular quarterly
cash distribution of $0.85 per unit for its common unitholders.
The board of directors of the partnership's general partner has approved
the quarterly cash distribution, which is payable on Feb. 10, 2017, to
common unitholders of record at the close of business on Feb. 3, 2017.
This announcement is intended to be a qualified notice to nominees under
Treasury Regulation Section 1.1446-4(b)(4) and (d). The partnership’s
distributions to foreign investors, which are attributable to income
that is effectively connected with a U.S. trade or business, are subject
to withholding under U.S. law. In light of the uncertainty at the time
of making distributions regarding the portion of any distribution that
is attributable to income that is not effectively connected with a U.S.
trade or business, we treat all of our distributions as attributable to
U.S. operations. Accordingly, the entire amount of the partnership's
distributions to foreign investors is subject to federal income tax
withholding at the highest effective tax rate. Nominees, and not
Williams Partners L.P., are treated as withholding agents responsible
for withholding on the distributions received by them on behalf of
foreign investors.
About Williams Partners
Williams Partners is an industry-leading, large-cap natural gas
infrastructure master limited partnership with a strong growth outlook
and major positions in key U.S. supply basins. Williams Partners has
operations across the natural gas value chain from gathering, processing
and interstate transportation of natural gas and natural gas liquids to
petchem production of ethylene, propylene and other olefins. Williams
Partners owns and operates more than 33,000 miles of pipelines system
wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas. Tulsa, Okla.-based Williams (NYSE: WMB), a
premier provider of large-scale U.S. natural gas infrastructure, owns
approximately 74 percent of Williams Partners.
Portions of this document may constitute “forward-looking statements”
as defined by federal law. Although the partnership believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Additional
information about issues that could lead to material changes in
performance is contained in the partnership’s annual and quarterly
reports filed with the Securities and Exchange Commission.
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Copyright Business Wire 2017
Source: Business Wire
(January 24, 2017 - 4:33 PM EST)
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