Enterprise Increases Cash Distribution Rate (Business Wire)

Wednesday July 16, 6:00 am ET HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD - News ) today announced that the board of directors of its general partner declared an increase in its quarterly cash distribution rate to partners to $0.515 per common unit, or $2.06 per unit on an annualized basis. The quarterly distribution will be paid on August 7, 2008, to unitholders of record at the close of business July 31, 2008. This distribution represents a 6.7 percent increase compared to the $0.4825 per unit quarterly distribution declared for the second quarter of 2007. Enterprise has now increased its cash distribution rate 16 consecutive quarters, representing the 25th increase since its initial public offering in 1998. Enterprise will announce its earnings for the second quarter 2008 on Thursday, July 24,... [read full story]