Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the first quarter of 2023 of $0.49 per unit, or $1.96 per unit on an annualized basis.
This quarterly distribution will be paid May 12, 2023, to common unitholders of record as of the close of business April 28, 2023. This distribution represents a 5.4 percent increase over the distribution declared with regard to the first quarter of 2022.
Enterprise repurchased 0.7 million of its common units in the open market during the first quarter of 2023 for a total purchase price of $17.0 million. Inclusive of these purchases, the partnership has utilized 37 percent of its authorized $2.0 billion buyback program.
Enterprise will announce its earnings for the first quarter of 2023 on Tuesday, May 2, 2023, 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 partnership’s website at www.enterpriseproducts.com. A replay of the webcast will be available following the conference call and may be accessed approximately 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. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage and marine terminals; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets currently include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.
