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Crestwood Equity Partners increases quarterly distribution

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Crestwood Equity Partners increases quarterly distribution

Crestwood Equity Partners LP raised its distribution for the fourth quarter of 2019 to 62.5 cents per unit, an increase of 2.5 cents, or 4.2%, from the prior-quarter distribution.

The distribution is equal to $2.50 per unit on an annualized basis, according to a Jan. 16 news release. It is payable Feb. 14 to common unit holders of record as of Feb. 7.

Crestwood said it plans to maintain the 62.5 cents per unit distribution throughout the year, subject to the quarterly approval of the partnership's board of directors.

Texas-based Crestwood owns and operates midstream businesses in shale resource plays in the U.S.