Enterprise management to seek dividend increase
HOUSTON (AP) — Enterprise Products Partners L.P. said Thursday that its management wants the pipeline company's general partner to increase its dividend for the rest of the year, as several projects have exceeded production expectations.
The management is seeking a 6.1 percent increase in the third-quarter cash distribution to 65 cents, which would be paid in November to shareholders of record as of Oct. 31.
It is also asking for a 6.5 percent increase for its fourth quarter distribution to 66 cents. That would be paid in February to shareholders of record as of Jan. 31.
Shares of the company, which is based in Houston, rose 30 cents to close Thursday at $54.69.