Enbridge Energy Partners (EEP) Announces Increase in Dividend
Enbridge Energy Partners, L.P. (NYSE: EEP) declared a cash distribution of $1.0275 per unit payable August 13, 2010 to unitholders of record on August 5, 2010 (the ex-dividend date will be August 3, 2010).
"We are also very pleased to announce a 2.5-cent distribution increase, which is 2.5 percent higher than the prior quarter and follows a 1.3 percent increase implemented last quarter. This distribution increase is supported by solid earnings, incremental cash flows generated from recently completed projects and attractive new business initiatives being developed that will provide further cash flow growth to the Partnership. The distribution increases approved this year positions the Partnership to achieve the 2 percent to 5 percent annual rate of distribution growth that Management has targeted."
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