Targa Resources Partners LP Announces Monthly Distribution on Preferred Units

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HOUSTON, May 15, 2019 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”) (NYSE: NGLS PR A) announced its monthly distribution on the Partnership’s 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Series A Preferred Units") for May 2019.

Targa Resources Partners LP announced today that the board of directors of its general partner has declared a monthly cash distribution of 18.75¢ per Series A Preferred Unit, or $2.25 per Series A Preferred Unit on an annualized basis, for May 2019. This cash distribution will be paid June 17, 2019 on all outstanding Series A Preferred Units to holders of record as of the close of business on May 31, 2019.

Targa Resources Partners LP is a Delaware limited partnership formed in October 2006 by its parent, Targa Resources Corp. (“TRC” or the “Company”), to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. On February 17, 2016 TRC completed the acquisition of all outstanding common units of the Partnership. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. Targa owns, operates, acquires, and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (“NGL(s)”) and NGL products, including services to LPG exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

The principal executive offices of Targa Resources Partners LP are located at 811 Louisiana, Suite 2100, Houston, TX 77002 and their telephone number is 713-584-1000. 

For more information, please visit our website at .

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 (100.0%) of Targa Resources Partners LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Targa Resources Partners LP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contact the Company's investor relations department by email at  or by phone at (713) 584-1133.

Sanjay LadSenior Director, Finance & Investor Relations

Jennifer KnealeChief Financial Officer

More news and information about Targa Resources Corp.

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Globe Newswire: 21:10 GMT Wednesday 15th May 2019

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