From the Wires
Enbridge Energy Management, L.L.C. Confirms Amount of Share Distribution for Third Quarter 2012
By: Marketwire .
Nov. 7, 2012 11:20 AM
HOUSTON,TX -- (Marketwire) -- 11/07/12 -- Enbridge Energy Management, L.L.C. (NYSE: EEQ) ("Enbridge Management") today confirmed that its previously declared share distribution, to be paid on November 14, 2012, will consist of 1.7174 additional shares for each 100 shares of record on November 7, 2012.
The distribution of additional Enbridge Management shares is based on the notional cash value of the declared distribution of $0.5435 per share and the average closing price of Enbridge Management shares for the ten consecutive trading days prior to the ex-dividend date.
Enbridge Management, L.L.C. (www.enbridgemanagement.com) manages the business and affairs of Enbridge Energy Partners, L.P., and its principal asset is an approximate 13 percent interest in, Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and liquids petroleum transportation and storage assets and natural gas gathering, treating, processing, transportation and marketing assets in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 15 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.
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