RICHMOND, Va., Jan. 25, 2017 /PRNewswire/ -- The board of directors of Dominion Midstream GP, LLC, the general partner of Dominion Midstream Partners, LP (NYSE: DM), has declared a fourth-quarter 2016 cash distribution of $0.2605 per common and subordinated unit – an increase of 5 percent above the third-quarter 2016 distribution – which corresponds to an annualized distribution rate of $1.04 per such unit. This fulfills the partnership's stated objective of increasing distributions per limited partnership common and subordinated unit by 22 percent for 2016.
Distributions are payable on Feb. 15, 2017, to unitholders of record at the close of business Feb. 6, 2017.
The partnership's last quarterly distribution was declared Oct. 21, 2016.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). All of Dominion Midstream's distributions to foreign investors should be treated by brokers and nominees as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Dominion Midstream is a Delaware limited partnership formed by Dominion Resources, Inc., to grow a portfolio of natural gas terminaling, processing, storage, transportation and related assets. It is headquartered in Richmond, Va. For more information about Dominion Midstream, visit its website at www.dommidstream.com.
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SOURCE Dominion Midstream Partners