DENVER, April 18, 2018 /PRNewswire/ -- Antero Midstream Partners LP (NYSE: AM) ("Antero Midstream") and Antero Midstream GP LP (NYSE: AMGP) ("AMGP") today announced their respective first quarter 2018 distributions.
Antero Midstream Increased Quarterly Distribution
The Board of Directors of Antero Midstream Partners GP LLC, the general partner of Antero Midstream, declared a cash distribution of $0.39 per unit ($1.56 per unit annualized) for the first quarter of 2018. The distribution represents a 30% increase compared to the prior year quarter and a 7% increase sequentially. The distribution is Antero Midstream's thirteenth consecutive quarterly distribution increase since its initial public offering in November 2014 and will be payable on May 18, 2018 to unitholders of record as of May 3, 2018.
AMGP Increased Quarterly Distribution
The Board of Directors of AMGP GP LLC, the general partner of AMGP, declared a distribution of $0.108 per share ($0.432 per share annualized) for the first quarter of 2018. The distribution represents a 44% increase compared to the fourth quarter of 2017. The distribution is AMGP's third consecutive quarterly distribution increase since its initial public offering in May 2017 and will be payable on May 23, 2018 to shareholders of record as of May 3, 2018.
Antero Midstream is a limited partnership that owns, operates and develops midstream gathering, compression, processing and fractionation assets as well as integrated water assets that primarily service Antero Resources Corporation's properties located in West Virginia and Ohio. Holders of Antero Midstream common units will receive a Schedule K-1 with respect to distributions received on the common units.
AMGP is a Delaware limited partnership that has elected to be classified as an entity taxable as a corporation for U.S. federal income tax purposes. Holders of AMGP common shares will receive a Form 1099 with respect to distributions received on the common shares. AMGP owns the general partner of Antero Midstream and indirectly owns the incentive distribution rights in Antero Midstream.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of the distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
For more information, contact Michael Kennedy – CFO of Antero Midstream and AMGP at (303) 357-6782 or [email protected].
SOURCE Antero Midstream Partners LP; Antero Midstream GP LP