El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Pipeline Partners, L.P. Declares Prorated Quarterly Distribution (updated)
HOUSTON, Jan 25, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- El Paso Pipeline Partners, L.P.
(NYSE: EPB) announced today that the Board of Directors of its general partner
has declared a prorated quarterly cash distribution of $0.12813 per unit, for
the fourth quarter of 2007. This cash distribution will be paid February 14,
2008, on all outstanding common and subordinated units to holders of record as
of the close of business on February 4, 2008.
The distribution is the first declared by the partnership and corresponds
to the minimum quarterly distribution of $0.28750 per unit per quarter, or
$1.15 per unit on an annualized basis, prorated for the partial quarter
following the closing of the partnership's initial public offering on November
El Paso Pipeline Partners, L.P. is a Delaware limited partnership formed
by El Paso Corporation in 2007 to own and operate natural gas transportation
pipelines and storage assets. El Paso Corporation owns 56.2 million limited
partner units and 1.7 million general partner units. El Paso Pipeline
Partners, L.P. owns Wyoming Interstate Company, an interstate pipeline system
serving the Rocky Mountain region, and a 10 percent interest in each of the
Colorado Interstate Gas Company and Southern Natural Gas Company interstate
pipelines, which operate in the Rocky Mountain and southeastern regions of the
United States, respectively. For more information about El Paso Pipeline
Partners, visit http://www.eppipelinepartners.com.
Note: Release has been updated to reflect five decimal places for
quarterly cash distribution amount.
SOURCE El Paso Pipeline Partners, L.P.