UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 9, 2019
ENTERPRISE PRODUCTS PARTNERS L.P.
(Exact name of registrant as specified in its charter)
Delaware | 1-14323 | 76-0568219 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
1100 Louisiana Street, 10th Floor, Houston, Texas | 77002 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (713) 381-6500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of Each Class |
Trading Symbol(s) |
Name of Each Exchange On Which Registered | ||
Common Units | EPD | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 | Other Events. |
On July 9, 2019, Enterprise Products Partners L.P., a Delaware limited partnership (the Partnership), issued a press release regarding the Partnerships quarterly cash distribution to be paid to limited partners with respect to the second quarter of 2019. In the press release, the Partnership also stated that, beginning with the payment of this quarterly distribution and until further notice, the Partnership has elected to use common units purchased on the open market, rather than issuing new common units to satisfy the delivery obligations under the Partnerships Distribution Reinvestment Plan and Employee Unit Purchase Plan. In future quarters, this election is subject to change depending on the Partnerships need for equity capital.
A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated by reference into this Item 8.01.
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Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit |
Description | |
99.1 | Press release dated July 9, 2019. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
ENTERPRISE PRODUCTS PARTNERS L.P. | ||||||
By: | Enterprise Products Holdings LLC, its General Partner | |||||
Date: July 9, 2019 | By: | /s/ R. Daniel Boss | ||||
Name: | R. Daniel Boss | |||||
Title: | Senior Vice President - Accounting and Risk Control of the General Partner | |||||
By: | /s/ Michael W. Hanson | |||||
Name: | Michael W. Hanson | |||||
Title: | Vice President and Principal Accounting Officer of the General Partner |
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Exhibit 99.1
ENTERPRISE DECLARES QUARTERLY DISTRIBUTION INCREASE
Houston, Texas (July 9, 2019) Enterprise Products Partners L.P. (NYSE: EPD) (Enterprise) announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to limited partners with respect to the second quarter of 2019 to $0.44 per common unit, or $1.76 per unit on an annualized basis.
The quarterly distribution will be paid Tuesday, August 13, 2019, to unitholders of record as of the close of business Wednesday, July 31, 2019. This distribution, which represents a 2.3 percent increase over the distribution declared with respect to the second quarter of 2018, is the partnerships 60th consecutive quarterly distribution increase.
Beginning with the payment of this quarterly distribution, and until further notice, Enterprise has elected to use common units purchased on the open market, rather than issuing new common units to satisfy the delivery obligations under the partnerships Distribution Reinvestment Plan and Employee Unit Purchase Plan. In future quarters, this election is subject to change depending on the partnerships need for equity capital.
Enterprise will announce its earnings for the second quarter of 2019 on Wednesday, July 31, 2019, before the New York Stock Exchange opens for trading. Following the announcement, the partnership will host a conference call at 9 a.m. CT with analysts and investors to discuss earnings. The call will be webcast live on the Internet and may be accessed through the Investors section of the partnerships website at www.enterpriseproducts.com. To listen to the webcast, participants should access the partnerships website at least 15 minutes prior to the start of the conference call to download and install any necessary audio software. A replay of the webcast will be available for one week following the conference call and may be accessed one hour after completion of the call.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating,
processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnerships assets currently include approximately 49,200 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity. This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Enterprises distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Enterprises distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
This press release includes forward-looking statements as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprises reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635
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