Chesapeake Midstream Partners, L.P. Increases Distribution to $0.39 Per Unit for the 2011 Fourth Quarter
January 26 2012 - 3:15PM
Business Wire
Chesapeake Midstream Partners, L.P. (NYSE:CHKM) today announced
that the Board of Directors of its general partner declared a cash
distribution of $0.39 per limited partner unit for the 2011 fourth
quarter. The fourth quarter distribution represents an increase of
$0.0525, or 15.6%, compared to the 2010 fourth quarter and
represents an increase of $0.015, or 4.0%, compared to the 2011
third quarter.
The distribution will be payable on February 14, 2012 to all
unitholders of record at the close of business on February 7, 2012,
together with the distribution to the general partner.
J. Mike Stice, Chesapeake Midstream Partners Chief Executive
Officer, commented, “I am very pleased to announce the largest
distribution increase since the formation of the Partnership. Our
contractual structure allows us to deliver this increase with
confidence, even in a very difficult gas price environment. We are
positioned to deliver steady, growing cash flows for investors, and
we look forward to continuing to demonstrate this capability in
2012.”
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Please note that 100 percent of the
Partnership’s distributions to foreign investors are attributable
to income that is effectively connected with a United States trade
or business. Accordingly, the Partnership’s distributions to
foreign investors are subject to federal income tax withholding at
the highest applicable effective tax rate.
Chesapeake Midstream Partners, L.P. (NYSE:CHKM) is the
industry’s largest gathering and processing master limited
partnership as measured by throughput volume and owns, operates,
develops and acquires natural gas gathering systems and other
midstream energy assets. Headquartered in Oklahoma City, the
Partnership's operations are focused on the Barnett Shale,
Haynesville Shale, Marcellus Shale and Mid-Continent regions of the
U.S. The Partnership’s common units are listed on the New
York Stock Exchange under the symbol CHKM. Further
information is available at www.chkm.com where the Partnership
routinely posts announcements, updates, events, investor
information and presentations and all recent press
releases.
This press release includes forward-looking statements.
Forward-looking statements give our current expectations or
forecasts of future events. They include but are not limited to
future distributions and other statements concerning our business
strategy and plans and objectives for future operations. We caution
you not to place undue reliance on our forward-looking statements,
which speak only as of the date of this release, and we undertake
no obligations to update this information. Although we believe the
expectations and forecasts reflected in these and other
forward-looking statements are reasonable, we can give no assurance
they will prove to be correct. They can be affected by inaccurate
assumptions or by known or unknown risks and uncertainties. Factors
that could cause actual results to differ materially from expected
results are described under “Risk Factors” in our 2010 Annual
Report on Form 10-K.
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