DENVER, Jan. 16, 2019 /PRNewswire/ -- Antero Midstream Partners LP (NYSE: AM) ("Antero Midstream") and Antero Midstream GP LP (NYSE: AMGP) ("AMGP") today announced their respective fourth 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 $0.47 per unit ($1.88 per unit annualized) for the fourth quarter of 2018. The distribution represents a 29% increase compared to the prior year quarter and a 7% increase sequentially. The distribution is Antero Midstream's sixteenth consecutive quarterly distribution increase, all of which represented 28% to 30% growth on an annualized basis, since its initial public offering in November 2014. The distribution will be payable on February 13, 2019 to unitholders of record as of February 1, 2019.
AMGP Increased Quarterly Distribution
The Board of Directors of AMGP GP LLC, the general partner of AMGP, declared a distribution of $0.164 per share ($0.656 per share annualized) for the fourth quarter of 2018. The distribution represents a 119% increase compared to the prior year quarter and a 14% increase sequentially. The distribution is AMGP's sixth consecutive quarterly distribution increase since its initial public offering in May 2017 and will be payable on February 21, 2019 to shareholders of record as of February 1, 2019.
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