DCP Midstream hikes distribution by 10.3%

DCP Midstream, LP (DCP) announced today that the board of directors of its general partner declared a second quarter 2022 Common Unit cash distribution of $0.43 per unit, or $1.72 per unit on an annualized basis. This quarterly Common Unit distribution represents a 10% increase over the prior quarter’s distribution and will be paid August 12, 2022 to common unitholders of record at the close of business on July 29, 2022.

In addition, the board of directors declared distributions for Series B and Series C preferred units. A quarterly Series B Preferred Unit cash distribution of $0.4922 per unit will be paid September 15, 2022 to preferred unitholders of record at the close of business on September 1, 2022. A quarterly Series C Preferred Unit cash distribution of $0.4969 per unit will be paid October 17, 2022 to preferred unitholders of record at the close of business on October 3, 2022.

DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66.