HOUSTON, April 29, 2015 /PRNewswire/ -- The Board of Directors of CPP GP LLC, as general partner of Columbia Pipeline Partners LP (NYSE: CPPL) ("CPPL"), a NiSource Inc. (NYSE: NI) company, today approved a prorated quarterly distribution payment of $0.0912 per unit for CPPL, payable on May 20, 2015, to both common and subordinated unit holders of record at the close of business on May 13, 2015. This is the first distribution declared by CPPL and corresponds to the minimum quarterly distribution of $0.1675 per unit, or $0.67 per unit annually. The distribution covers the portion of the first quarter 2015 between the day following the close of the initial public offering on February 11, 2015, and March 31, 2015.
About Columbia Pipeline Partners LP
Columbia Pipeline Partners LP, based in Houston, Texas, is a fee-based, growth-oriented master limited partnership formed to own, operate and develop a growing portfolio of natural gas pipelines, storage and related midstream assets.
CPPL's business and operations are conducted through CPG OpCo LP and its subsidiaries, which own and operates substantially all of the natural gas transmission, storage and midstream assets of NiSource Inc.'s Columbia Pipeline Group unit. Columbia Pipeline Group operates approximately 15,000 miles of strategically located interstate pipelines extending from New York to the Gulf of Mexico, one of the nation's largest underground natural gas storage systems, and a growing portfolio of related gathering and processing assets. The majority of its assets overlay the Marcellus and Utica Shale production areas. Additional information can be found at www.columbiapipelinepartners.com and www.columbiapipelinegroup.com.
SOURCE Columbia Pipeline Partners LP