Enterprise Products Boosts Cash Distribution 2.3%, To Buy Back Shares

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Enterprise Products Partners L.P. (EPD) said its management plans to recommend to the board of Enterprise's general partner an increase its cash distribution with respect to the fourth quarter of 2019 by 2.3 percent to $0.4450 per unit.

Enterprise also intends to use approximately 2 percent of its 2020 CFFO to buy back its common units during 2020. Using 2019 CFFO as a base, these proposed distribution increases and unit buyback plan would result in an approximate 5.6 percent increase in capital returned to limited partners in 2020 compared to 2019.