DCP Midstream Partners Declares Increase In Quarterly Distribution; Invites Investors to Third Quarter 2007 Earnings Call
DENVER, Oct. 24 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) today announced that the board of directors of its general partner declared a quarterly cash distribution of $0.55 per unit for the quarter ended Sept. 30, 2007. This represents an increase of 3.8 percent over the last quarterly distribution of $0.53 per unit paid on Aug. 15, 2007, and a 35.8 percent increase over the quarterly distribution paid for the third quarter of 2006 of $0.405 per unit. The quarterly cash distribution will be paid on Nov. 14, 2007, to unitholders of record at the close of business on Nov. 7, 2007. This quarterly distribution equates to $2.20 per unit on an annual basis.
DCP Midstream Partners will announce its earnings for the quarter ended Sept. 30, 2007, after the New York Stock Exchange closes for trading on Wednesday, Nov. 7, 2007. An earnings conference call for investors and analysts is scheduled for 11 a.m. ET on Thursday, Nov. 8, 2007. The conference call can be accessed via Webcast through the Investor section of DCP Midstream Partners' Web site at http://www.dcppartners.com or by dialing 877-407-8035 in the United States or 201-689-8035 outside the United States. Please call in 5 to 10 minutes prior to the scheduled start time. A replay of the conference call will be available until midnight ET, Nov. 15, 2007, by dialing 877-660-6853 in the United States or 201-612-7415 outside the United States. The account number is 286 and the conference identification code is 259778. A replay, transcript and presentation slides in PDF format will also be available by accessing the Investor section of the partnership's Web site.
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, processes, transports and markets natural gas, transports and markets natural gas liquids, and is a leading wholesale distributor of propane. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and ConocoPhillips. For more information, visit the DCP Midstream Partners, LP Web site at http://www.dcppartners.com.
SOURCE DCP Midstream Partners, LP - 10/24/2007
Media and Investor Relations, Karen L. Taylor of DCP Midstream Partners, LP,
+1-303-633-2913, 24-Hour, +1-303-809-9160
Web site: http://www.dcppartners.com