El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
22-Oct-2010
El Paso Pipeline Partners Increases Quarterly Cash DistributionHOUSTON, TX, Oct 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 $0.41
per unit quarterly cash distribution for the third quarter of 2010,
or $1.64 per unit on an annualized basis. This distribution
represents a 17 percent increase from the $0.35 per unit paid for the
third quarter 2009 and a 2.5 percent increase from the $0.40 per unit
paid for the second quarter 2010.
The distribution will be paid November 15, 2010, on all outstanding
common and subordinated units to holders of record as of the close of
business on November 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
an approximate 52 percent limited partner interest and the 2 percent
general partner interest in the partnership. El Paso Pipeline
Partners, L.P. owns Wyoming Interstate Company, L.L.C., 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; a 51 percent interest in Southern LNG Company,
L.L.C., which owns the Elba Island LNG storage and regasification
terminal near Savannah, Georgia; a 51 percent interest in El Paso
Elba Express Company, L.L.C.; and a 45 percent interest in Southern
Natural Gas Company. Both El Paso Elba Express Company, L.L.C. and
Southern Natural Gas Company are interstate pipeline systems serving
the southeastern region of the United States.
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.
Contacts:
Investor and Media Relations
Bruce Connery
Vice President
(713) 420-5855
Media Relations
Bill Baerg
Manager
(713) 420-2906
SOURCE: El Paso Pipeline Partners
|