CANONSBURG, Pa., April 21, 2016 /PRNewswire/ -- The Board of Directors of CONE Midstream GP LLC, the general partner of CONE Midstream Partners LP (NYSE: CNNX), today announced the declaration of a cash distribution of $0.245 per unit with respect to the first quarter of 2016. The distribution will be made on May 13, 2016 to unitholders of record as of the close of business on May 4, 2016. The distribution, which equates to an annual rate of $0.98 per unit, represents an increase of 3.7% over the prior quarter, and an increase of 15.3% over the distribution paid with respect to the first quarter of 2015.
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CONE Midstream Partners is a growth-oriented master limited partnership formed by CONSOL Energy Inc.(NYSE: CNX) and Noble Energy, Inc. (NYSE: NBL), whom we refer to as our Sponsors, to own, operate, develop and acquire natural gas gathering and other midstream energy assets to service our Sponsors' production in the Marcellus Shale in Pennsylvania and West Virginia. Our assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. More information is available at our website www.conemidstream.com.
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This press release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of CONE Midstream's distributions to non-U.S. investors as being attributed to income that is effectively connected with a United States trade or business. Accordingly, CONE Midstream's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not CONE Midstream, are treated as withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Contact: Stephen R. Milbourne
CONE Midstream Partners Investor Relations
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SOURCE CONE Midstream Partners LP