Earnings Release and Earnings Call Dates Also Announced
Distribution is First for Combined Partnerships Following Merger with Sunoco Logistics
DALLAS–(BUSINESS WIRE)–Energy Transfer Partners, L.P. (NYSE: ETP) today announced a quarterly cash distribution for the first quarter ended March 31, 2017 of $0.535 per common unit ($2.14 on an annualized basis). This cash distribution will be paid on May 15, 2017 to unitholders of record as of the close of business on May 10, 2017.
Earlier today, ETP completed its merger with a subsidiary of Sunoco Logistics Partners L.P. (“SXL”), with ETP continuing as the surviving entity and becoming a wholly owned subsidiary of SXL. At the same time, SXL changed its name to Energy Transfer Partners, L.P. Upon closing of the merger, all ETP unitholders received, for each ETP common unit held, 1.50 common units of SXL. On May 1, 2017, SXL common units will begin trading on the New York Stock Exchange under the ticker symbol “ETP.” Today’s distribution announcement is the first for the combined partnerships following the merger.
ETP expects to release earnings for the first quarter of 2017 on Wednesday, May 3, 2017, after the market closes. ETP and Energy Transfer Equity, L.P. (NYSE: ETE), which owns the general partner of ETP, will conduct a joint conference call on Thursday, May 4, 2017 at 8:00 a.m. Central Time to discuss their quarterly results. The conference call will be broadcast live via an internet webcast, which can be accessed through www.energytransfer.com. The call will also be available for replay on Energy Transfer’s website for a limited time.
The following information applies to ETP’s quarterly distribution announcement:
Record Date: May 10, 2017
Ex-Date: May 8, 2017
Payment Date: May 15, 2017
Amount Paid: $0.535 per common unit
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, ETP owns and operates a geographically diverse portfolio of complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership that owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns Lake Charles LNG Company. On a consolidated basis, ETE’s family of companies owns and operates a diverse portfolio of natural gas, natural gas liquids, crude oil and refined products assets, as well as retail and wholesale motor fuel operations and LNG terminalling. For more information, visit the Energy Transfer Equity, L.P. website at www.energytransfer.com.
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 Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes 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 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 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 website at www.energytransfer.com.
Helen Ryoo, 214-981-0795
Lyndsay Hannah, 214-981-0795
Brent Ratliff, 214-981-0795
Vicki Granado, 214-981-0761