Press Release Source: BreitBurn Energy Partners L.P. On Friday October 28, 2011, 6:00 am EDT
LOS ANGELES--(BUSINESS WIRE)-- BreitBurn Energy Partners L.P. (NASDAQ:BBEP - News) announced today a cash distribution of $0.4350 per unit for the third quarter 2011, or $1.74 per unit on an annualized basis, for all of its outstanding units. This distribution represents an increase from the second quarter 2011 distribution, which was $0.4225 per unit, or $1.69 per unit on an annualized basis. The distribution will be payable on November 14, 2011 to the record holders of common units at the close of business on November 9, 2011.
Think BBEP will continue to raise distribution. I’m guessing they are still trying to get the bad taste of suspending distributions out of investor’s mouths. My estimate is that it will be raised $.02 to $1.71 annually ($0.4275 this quarter). Should know shortly.