SOURCE: El Paso Pipeline Partners

El Paso Pipeline Partners

October 19, 2009 08:30 ET

El Paso Pipeline Partners Increases Quarterly Cash Distribution

HOUSTON, TX--(Marketwire - October 19, 2009) - El Paso Pipeline Partners, L.P. (NYSE: EPB) today announced that the Board of Directors of its general partner has declared a quarterly cash distribution of $0.3500 per unit for the third quarter of 2009, or $1.40 per unit on an annualized basis. This distribution represents a 16.7 percent increase from the $0.3000 per unit quarterly distribution for the third quarter 2008, and a 6.1 percent increase from the $0.3300 per unit quarterly distribution for the second quarter 2009.

"We are pleased to deliver our sixth consecutive distribution increase to our unit holders," said Jim Yardley, president and chief executive officer of the general partner of El Paso Pipeline Partners. "The increase reflects our consistent growth as we completed our second acquisition from El Paso Corporation in July and continue to execute on our backlog of growth projects."

The distribution will be paid November 13, 2009 on all outstanding common and subordinated units to holders of record as of the close of business on October 30, 2009.

El Paso Pipeline Partners, L.P. is a Delaware limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets. El Paso Corporation owns a 65 percent limited partner interest and a 2 percent general partner interest in the partnership. El Paso Pipeline Partners, L.P. owns Wyoming Interstate Company, an interstate pipeline system serving the Rocky Mountain region, a 58 percent interest in Colorado Interstate Gas Company which operates in the Rocky Mountain region, and a 25 percent interest in Southern Natural Gas Company, which operates in the southeastern region of the United States. For more information about El Paso Pipeline Partners, visit www.eppipelinepartners.com

Cautionary Statement Regarding Forward-Looking Statements

This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. El Paso Pipeline Partners has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation, insufficient cash flows required to make the cash distributions to unitholders, the ability to obtain necessary governmental approvals for proposed pipeline projects and to successfully construct and operate such projects; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; the risks associated with recontracting of transportation commitments; regulatory uncertainties associated with pipeline rate cases; actions taken by third-party operators, processors and transporters; conditions in geographic regions or markets served by El Paso Pipeline Partners and its affiliates and equity investees or where its operations and affiliates are located; the effects of existing and future laws and governmental regulations; competitive conditions in our industry; changes in the availability and cost of capital; and other factors described in the company's (and its affiliates') Securities and Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new information, future events, or otherwise.

Note to Non-United States Investors

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of El Paso Pipeline Partners' distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, El Paso Pipeline Partners' distributions to Non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contact Information

  • Contacts

    Investor & Media Relations
    Bruce Connery
    Vice President
    Office: (713) 420-5855

    Media Relations
    Bill Baerg
    Manager
    Office: (713) 420-2906