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This is up 4.3% from the USD0.41 per unit quarterly distribution for the fourth quarter of 2007. The new distribution equates to USD1.71 per unit on an annual basis.
The cash distribution is payable on 9 February 2009 to unitholders of record at the close of business as of 30 January 2009.
In addition, the company announced the issuance of approximately 37.3m Class B units to an affiliate of Enterprise Products Partners L.P. (NYSE:EPD) as part of the payment for interests in three midstream energy companies. These Class B units will receive a pro-rated cash distribution of USD0.1115 per common unit with respect to the fourth quarter of 2008 for the 24-day period from the closing of the transaction on 8 December to 31 December 2008 and will convert to common units of DEP on 1 February 2009.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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