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Enterprise Products Partners L.P. Message Board

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  • nsupper1 nsupper1 Oct 26, 2009 9:02 AM Flag

    Done is Done..

    am I rite that the TPP owners get the EPD dist. of.55.25 instead of TPP nov dist of.72.5 if deals closes by Oct 30

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    • The last distribution declaration from TPP was July-20 to be paid Aug-7 for $.725.

      From EPD $.5525 to record of Oct-30 , paid Nov-5th.

      I believe you are right that we might be getting $.515 as declared by EPD.

      The good part is that by getting 1.24% shares we will be getting the equivalent of $.639.

      Then again? We were not holders of EPD on OCT-30.

      That is interesting for sure...

      Next quarter will tell how this merger will affect our distributions.

      • 1 Reply to treenstandno2
      • From the EPD Press Release:
        "Enterprise Products Partners L.P. (NYSE: EPD - News) yesterday declared an increase in the quarterly cash distribution rate paid to partners to 55.25 cents per common unit, or $2.21 per unit on an annualized basis. Previously, the quarterly dividend totaled 52.25 cents, representing an increase of 5.7%. The quarterly distribution will be paid on Nov 5 to unitholders of record as of the close of business on Oct 30. This is the 30th distribution increase since Enterprise’s initial public offering in 1998 and the 21st consecutive quarterly increase.

        Enterprise added that, should its proposed acquisition of Teppco Partners L.P. (NYSE: TPP - News) close prior to Oct 30, holders of Enterprise common units issued in exchange for Teppco units in the buyout will receive this dividend payment"

        The 2nd paragraph leads me to believe we will get the .5525 rate (based on the 1.24 EPD/TPP units we had).

 
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