andTallgrass Energy GP LPannounced increased quarterly distributions for the first quarter of 2016,according to an April 12 news release.
TallgrassEnergy Partners' quarterly distribution was declared at 70.5 cents per unit, or$2.82 on an annualized basis. The distribution represents a 35.6% increase overthat of the prior-year quarter, and a 10.2% sequential increase over that ofthe previous quarter.
"Thisamount is above the minimum increase of $0.06 for the first quarter of 2016that was announced in conjunction with the January 2016 of an interest in PonyExpress and demonstrates our continued commitment to prudently grow ourdistributions," said David Dehaemers Jr., president and CEO of Tallgrass.
TallgrassEnergy GP's distribution was declared at 21 cents per class A share, or 84cents on an annualized basis. The distribution represents a 21.4% sequentialincrease over that of the previous quarter.
Thedistributions will be paid on May 13 to unit holders and shareholders of recordas of the close of business on April 21.