Enterprise Products Partners L.P. (NYSE: EPD - News) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.6275 per common unit, or $2.51 per unit on an annualized basis. The quarterly distribution will be paid on Wednesday, May 9, 2012, to unitholders of record as of close of business on Monday, April 30, 2012.
EPD is one of the best in the business. Look for continued modest increases for years to come after some major projects have been on line for a year. And now they are partnering with another MLP who is one of the best, Enbridge. I have been invested in EEP for over ten years and I just thought I'd come over here to say, "good going EPD".
The board sets their annual budget usually during their May meeting. Would think the increase will go to .01 in July as lots of projects go on line in the next 3 months. The lack of a larger increase is not a change, but rather in agreement with their stated plans.