Inergy Holdings, Inergy GP raise 3Q distributions

Inergy Holdings, Inergy GP each raise 3rd-quarter cash distributions

• On 10:50 am EDT, Monday October 26, 2009

KANSAS CITY, Mo. (AP) -- Inergy Holdings GP LLC, the general partner of propane supplier Inergy LP, on Monday said it will increase its quarterly cash distribution 9 percent for the three-month period ended Sept. 30.

The company will raise its distribution to 85 cents per limited partner unit, up from the previous quarter's distribution of 78 cents per limited partner unit.

The distribution will be paid on Nov. 13 to unit holders of record as of Nov. 6.

Separately, Inergy GP LLC, managing general partner of Inergy LP, said its board of directors increased its quarterly cash distribution to 67.5 cents per limited partner unit for the quarter ended Sept. 30. This represents a 6.3 percent increase from the distribution for the same period last year.

This distribution will also be paid on Nov. 13 to unit holders of record as of Nov. 6.

Shares of Inergy LP rose 70 cents to $49.45 in morning trading.

(This version CORRECTS the company name to Inergy Holdings GP LLC.)