Crestwood Announces Quarterly Distribution and Schedules Fourth Quarter 2022 Earnings Release Date
19 Janvier 2023 - 10:15PM
Business Wire
Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today
announced that the board of directors of its general partner has
declared the partnership’s quarterly cash distribution of $0.655
per limited partner unit ($2.620 annually) for the quarter ended
December 31, 2022, which is flat quarter-over-quarter. In addition,
Crestwood announced a quarterly cash distribution of $0.2111 per
Class A preferred equity unit ($0.8444 annually). Both common and
preferred distributions will be made on February 14, 2023, to
unitholders of record as of February 7, 2023.
Crestwood plans to report financial results for the fourth
quarter 2022 and provide full-year 2023 financial guidance on
Tuesday, February 21, 2023, before the New York Stock Exchange
opens for trading. Following the announcement, management will host
a conference call for investors and analysts at 9:00 a.m. Eastern
Time (8:00 a.m. Central Time) that day to discuss the operating and
financial results. Crestwood will provide an update on its
operations and financial strategy at that time. The call will be
broadcast live over the internet via audio webcast. Investors will
be able to connect to the webcast via the “Investors” page of
Crestwood’s website at www.crestwoodlp.com. Please log in at least
ten minutes in advance to register and download any necessary
software. A replay will be available shortly after the call for 90
days.
Forward Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal securities law. Such forward-looking statements
are subject to a variety of known and unknown risks, uncertainties,
and other factors that are difficult to predict and many of which
are beyond management’s control. These risks and assumptions are
described in Crestwood’s annual reports on Form 10-K and other
reports that are available from the United States Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on forward-looking statements, which reflect management’s
view only as of the date made. We undertake no obligation to update
any forward-looking statement, except as otherwise required by
law.
Tax Notice to Foreign Investors
Concurrent with this announcement we are providing qualified
notice to brokers and nominees that hold Crestwood units on behalf
of non-U.S. investors under Treasury Regulation Section 1.1446-4(b)
and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii).
Brokers and nominees should treat one hundred percent (100.0%) of
Crestwood’s distributions to non-U.S. investors as being
attributable to income that is effectively connected with a United
States trade or business. In addition, brokers and nominees should
treat one hundred percent (100%) of the distribution as being in
excess of cumulative net income for purposes of determining the
amount to withhold. Accordingly, Crestwood’s distributions to
non-U.S. investors are subject to federal income tax withholding at
a rate equal to the highest applicable effective tax rate plus ten
percent (10%). Nominees, and not Crestwood, are treated as the
withholding agents responsible for withholding on the distributions
received by them on behalf of non-U.S. investors.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP)
is a master limited partnership that owns and operates midstream
businesses in multiple shale resource plays across the United
States. Crestwood is engaged in the gathering, processing,
treating, compression, storage and transportation of natural gas;
storage, transportation, terminalling, and marketing of NGLs;
gathering, storage, terminalling and marketing of crude oil; and
gathering and disposal of produced water. For more information,
visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to
learn more about Crestwood’s sustainability efforts, please visit
https://esg.crestwoodlp.com.
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Crestwood Equity Partners LP Investor Contacts
Andrew Thorington, 713-380-3028 Andrew.thorington@crestwoodlp.com
Vice President, Finance and Investor Relations Rhianna Disch,
713-380-3006 Rhianna.disch@crestwoodlp.com Director, Investor
Relations
Sustainability and Media Contact
Joanne Howard, 832-519-2211 Joanne.howard@crestwoodlp.com Senior
Vice President, Sustainability and Corporate Communications
Crestwood Equity Partners (NYSE:CEQP)
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