El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
El Paso Pipeline Partners Increases Quarterly Cash Distribution
HOUSTON, TX, Jan 22, 2010 (MARKETWIRE via COMTEX) -- El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced that the Board of Directors of its general partner has declared a quarterly cash distribution of $0.36 per unit for the fourth quarter of 2009, or $1.44 per unit on an annualized basis. This distribution represents an increase of 12.5 percent from the $0.32 per unit paid for the fourth quarter 2008 and an increase of 2.9 percent from the $0.35 per unit paid for the third quarter 2009.
The distribution will be paid February 12, 2010 on all outstanding common and subordinated units to holders of record as of the close of business on February 1, 2010.
El Paso Pipeline Partners, L.P. is a Delaware limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets. El Paso Corporation owns a 61 percent limited partner interest and a 2 percent general partner interest in the partnership. El Paso Pipeline Partners, L.P. owns Wyoming Interstate Company, an interstate pipeline system serving the Rocky Mountain region, a 58 percent interest in Colorado Interstate Gas Company which operates in the Rocky Mountain region, and a 25 percent interest in Southern Natural Gas Company, which operates in the southeastern region of the United States. For more information about El Paso Pipeline Partners, visit www.eppipelinepartners.com.
Note to Non-United States Investors
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 of El Paso Pipeline Partners' distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, El Paso Pipeline Partners' distributions to Non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Investor & Media Relations
SOURCE: El Paso Pipeline Partners