DCP Midstream Partners Declares Increase in Quarterly Distribution; Invites Investors to Third Quarter 2006 Earnings Call
DENVER, Oct. 25 /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 $.405 per unit for the quarter ended September 30, 2006. This represents an increase of 6.6 percent over the last quarterly distribution of $.38 per unit paid on August 14, 2006, and a 15.7 percent increase over the minimum quarterly distribution of $.35 per unit set forth in the prospectus in connection with the Partnership's initial public offering in December 2005. The quarterly cash distribution will be paid on November 14, 2006 to unitholders of record at the close of business on November 6, 2006. This quarterly distribution equates to $1.62 per unit on an annual basis.
DCP Midstream Partners will announce its earnings for the third quarter of 2006 after the New York Stock Exchange closes for trading on Wednesday, November 8, 2006. An earnings conference call for investors and analysts is scheduled for 11 a.m. ET on Thursday, November 9, 2006. 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 866-770-7120 in the United States or 617-213-8065 outside the United States. The pass code is 83686348. 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, November 16, 2006, by dialing 888-286-8010 in the United States or 617-801-6888 outside the United States. The pass code is 30663914. A replay, transcript and presentation slides in PDF format will also be available by accessing the event calendar of the Investor section of the company's Web site.
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, treats, compresses, processes, transports and markets natural gas and transports and markets natural gas liquids. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by Duke Energy Field Services, a joint venture between Duke Energy and ConocoPhillips. For more information, visit the DCP Midstream Partners, LP Web site at http://www.dcppartners.com.
SOURCE DCP Midstream Partners, LP
CONTACT: Karen Taylor of DCP Midstream Partners, LP, +1-303-633-2913, or