DENVER, Oct. 11, 2017 /PRNewswire/ -- Antero Midstream Partners LP (NYSE: AM) ("Antero Midstream") and Antero Midstream GP LP (NYSE: AMGP) ("AMGP") today announced their respective third quarter 2017 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 $0.34 per unit ($1.36 per unit annualized) for the third quarter of 2017. The distribution represents a 28% increase compared to the prior year quarter and a 6% increase sequentially. The distribution is Antero Midstream's eleventh consecutive quarterly distribution increase since its initial public offering in November 2014 and will be payable on November 16, 2017 to unitholders of record as of November 1, 2017.
AMGP Increased Quarterly Distribution
The Board of Directors of AMGP GP LLC, the general partner of AMGP, declared a distribution of $0.059 per share ($0.236 per share annualized) for the third quarter of 2017. The third quarter distribution represents AMGP's first full quarterly distribution following the pro-rata distribution for the second quarter for the period from the closing of the initial public offering on May 9, 2017 through June 30, 2017. The distribution will be payable on November 23, 2017 to shareholders of record as of November 1, 2017.
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 firstname.lastname@example.org.
SOURCE Antero Midstream Partners LP; Antero Midstream GP LP