Tallgrass Energy Partners Increases Quarterly Distribution - Quick Facts

(RTTNews) - Tallgrass Energy Partners, LP (TEP) announced that the board of its general partner has declared a quarterly cash distribution to partners of $0.38 per common unit for the second quarter of 2014, or $1.52 on an annualized basis. This represents an amount that is 32.2% over TEP's minimum quarterly distribution and a 16.9% increase from the first quarter 2014 distribution of $0.3250.

The company said the increase in distribution is in conjunction with the acquisition of Trailblazer Pipeline Company LLC on April 1, 2014. The quarterly distribution will be paid on August 14, 2014, to unitholders of record as of the close of business on Wednesday, July 30, 2014.