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Williams Partners ups quarterly cash distribution

TULSA, Okla. (AP) -- Gas pipeline operator Williams Partners is increasing its quarterly cash distribution by 2.5 percent from the previous rate to 82.75 cents per unit.

The prior quarterly cash distribution was for 80.75 cents per unit.

The cash distribution will be paid on Feb. 8 to unitholders of record on Feb. 1.

Williams Partners LP said Tuesday that the cash distribution is also an 8.5 percent increase over its distribution of 76.25 cents per unit in February 2012.

The company's stock gained $1.14, or 2.3 percent, to $51.09 in afternoon trading. The shares have traded in a 52-week range of $45.01 to $65.39.