Enterprise Products board increases quarterly dividend to 40.5c per share
Enterprise Products Partners announced that the board of directors of its general partner declared an increase in the quarterly cash distribution paid to partners to 40.5c per common unit, or $1.62 per unit on an annualized basis. This distribution is equal to the distribution that Enterprise's management had indicated in its press release dated January 4, 2016 that it would recommend to the board of Enterprise's general partner with respect to the third quarter of 2016. The quarterly distribution will be paid on Monday, November 7, 2016, to unitholders of record as of the close of business on Monday, October 31, 2016. This distribution, which represents a 5.2% increase over the distribution declared with respect to the third quarter of 2015, is the 58th distribution increase since Enterprise's initial public offering in 1998 and the 49th consecutive quarterly increase.