MarkWest Hydrocarbon Declares Quarterly Cash Dividend of $0.36 Per Share
January 25 2008 - 3:15PM
Business Wire
MarkWest Hydrocarbon, Inc. (AMEX: MWP) (the �Company�) today
announced that its Board of Directors declared a cash dividend of
$0.36 per share of common stock for the fourth quarter of 2007, for
an implied annual dividend rate of $1.44 per share. This represents
no change from the third quarter of 2007. Pursuant to a covenant
contained in the redemption and merger agreement with MarkWest
Energy Partners, L.P. announced on September 5, 2007, the Company
is prohibited from declaring any dividend greater than the per
share dividend for the second quarter of 2007. The fourth quarter
2007 dividend is payable on February 15, 2008, to the stockholders
of record as of the close of business on February 8, 2008. The
ex-dividend date is February 6, 2008. MarkWest Hydrocarbon, Inc.
(AMEX: MWP) controls and operates MarkWest Energy Partners, L.P.
(NYSE: MWE), a publicly traded limited partnership engaged in the
gathering, processing and transmission of natural gas; the
transportation, fractionation and storage of natural gas liquids;
and the gathering and transportation of crude oil. We also market
natural gas and NGLs. This press release includes �forward-looking
statements� within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section�21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical facts included or incorporated herein may constitute
forward-looking statements. Actual results could vary significantly
from those expressed or implied in such statements and are subject
to a number of risks and uncertainties. Although we believe that
the expectations reflected in the forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. The forward-looking statements involve risks
and uncertainties that affect our operations, financial performance
and other factors as discussed in our filings with the Securities
and Exchange Commission. Among the factors that could cause results
to differ materially are those risks discussed in our Form 10-K for
the year ended December 31, 2006, as amended, as filed with the
SEC. You are urged to carefully review and consider the cautionary
statements and other disclosures made in those filings,
specifically those under the heading �Risk Factors.� We do not
undertake any duty to update any forward-looking statement.
Although we believe that the expectations reflected in the
forward-looking statements, specifically those referring to future
performance, growth, cash flow, operating income, distributable
cash flow (DCF), distributions, or other factors, are reasonable,
these forward-looking statements are not guarantees of future
performance, and we can give no assurance that such expectations
will prove to be correct and that projected performance or
distributions may not be achieved. Among the factors that could
cause results to differ materially are those risks discussed in our
Form S-1, as amended, our Annual Report on Form 10-K for the year
ended December 31, 2006, as amended, and our Quarterly Reports on
Form 10-Q, each as filed with the SEC. You are also urged to
carefully review and consider the cautionary statements and other
disclosures, including those under the heading �Risk Factors,� made
in those filings, which identify and discuss significant risks,
uncertainties and various other factors that could cause actual
results to vary significantly from those expressed or implied in
the forward-looking statements. We do not undertake any duty to
update any forward-looking statement. MarkWest Energy Partners and
MarkWest Hydrocarbon filed a definitive joint proxy
statement/prospectus and other documents with the Securities and
Exchange Commission (the "SEC") in relation to the merger
transaction announced on September 5, 2007. Investors and security
holders are urged to read these documents carefully when they
become available because they will contain important information
regarding MarkWest Energy Partners, MarkWest Hydrocarbon, and the
transaction. A definitive joint proxy statement/prospectus will be
sent to security holders of MarkWest Energy Partners and MarkWest
Hydrocarbon seeking their approval of the transactions contemplated
by the redemption and merger agreement. Investors and security
holders may obtain a free copy of the joint proxy
statement/prospectus (when it is available) and other documents
containing information about MarkWest Energy Partners and MarkWest
Hydrocarbon, without charge, at the SEC�s website at www.sec.gov.
Copies of the joint proxy statement/prospectus and the SEC filings
that will be incorporated by reference in the joint proxy
statement/prospectus may also be obtained free of charge by
directing a request to the entities' investor relations department
at 866-858-0482, or by accessing their website at www.markwest.com.
MarkWest Energy Partners, MarkWest Hydrocarbon, the officers and
directors of the general partner of MarkWest Energy Partners, and
the officers and directors of MarkWest Hydrocarbon may be deemed to
be participants in the solicitation of proxies from their security
holders. Information about these persons can be found in the Annual
Report on Form 10-K for each of MarkWest Energy Partners and
MarkWest Hydrocarbon, as filed with the SEC, and additional
information about such persons may be obtained from the joint proxy
statement/prospectus. This document shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of the Securities
Act of 1933, as amended.
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