Enable Midstream Announces Distribution, Capital and Cost Reductions
Enable Midstream Partners, LP Common Units representing limited partner interests (ENBL)
Last enable midstream partners, lp common units representing limited partner interests earnings: 2/19 06:00 am
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US:NYSE Investor Relations:
investors.enablemidstream.com
Company Research
Source: Business Wire
OKLAHOMA CITY--(BUSINESS WIRE)--Enable Midstream Partners, LP (NYSE: ENBL) announced today that the partnership is taking significant measures to strengthen its financial position in response to current industry conditions. Taken together, the actions announced today are expected to result in an annualized increase in retained cash flow of approximately $450 million and position Enable to fully fund its business and reduce total debt in 2020.The board of directors of Enable’s general partner has approved a 50% reduction in the partnership’s quarterly distribution per common unit from $0.3305 to $0.16525. This reduction will result in Enable having nearly $290 million of additional cash on an annualized basis, providing meaningful financial flexibility and funding for Enable’s capital investment program.Enable is reducing 2020 total expansion capital expenditures by $115 million, or 48%, from the top end of the previously provided outlook, which included capital projects not expect
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