When did EPD originally say they would meet to discuss distributions? After the first half 2012 projects were completed and the numbers were in. Those numbers came in early August.
Has the BOD met since then? They met this week according to the information EPD gave me.
Does the BOD normally comment on distributions except when declaring distributions? No.
Does EPD management normally comment on distributions except during a conference call of in a 10Q/10K? No.
Did you read the transcript from last quarter? Obviously not. That is because EPD stated last months that because of the continuing problem with low NGL prices and some construction issues that they would be delaying a decision on distribution until "later in the fall." I would think that would mean when the results are in for this quarter.
Did EPD give an explanantion for keeping its distribution increase rate at .0075/quarter? Yes, during my discussion they indicated that with the current market conditions there was little upside in unit price to be obtained for increasing the rate. They also noted that with the cash retained and lower interest rates on their debt, EPD had not had a secondary offering nor do they anticipate having one in 2012.
You say a .0025 change in the increase would not make much difference. I agree. It indeed would not cost EPD much money for several years, but would not do EPD any good in their opinion. If you reinvest it would take 400 units to receive an additional $1 from the differential you ask for. Over 20000 units to get one additional unit for reinvestment each quarter. As you say it makes little difference and the market seems to agree.
My suggestion - call EPD at 866 230 0745 and let them know your feelings. OK?
ARB