Crosstex Increases Distributions for Fifth Consecutive Quarter; Corporation Also Increases Quarterly Dividend.DALLAS Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. -- The Crosstex Energy companies, Crosstex Energy, L.P. (NasdaqNM:XTEX) (the Partnership) and Crosstex Energy Inc. (NasdaqNM:XTXI) (the Corporation), today announced second quarter distributions and dividends: --Quarterly distributions on the Partnership's common and subordinated units will increase from $0.40 per unit to $0.42 per unit, payable Aug. 19 to unitholders of record on Aug. 6. --Quarterly dividends on the Corporation's common stock will increase from $0.30 per common share to $0.33 per common share, payable Aug. 19 to shareholders of record on Aug. 6. "This increase in cash distributions and dividends is based on our second quarter operating results, which includes the successful integration of the LIG lig Brit slang Noun (esp. in the media) a function with free entertainment and refreshments Verb [ligging, ligged] to attend such a function ligger Pipeline Company transaction that closed in April," said Barry Barry, Welsh Barri, town (1991 pop. 45,053) and port, Vale of Glamorgan, S Wales, on the Bristol Channel. Once a major coal-exporting port, its more diversified export products include cement, flour, and steel products. E. Davis, president and chief executive officer of the Crosstex Energy companies. "It is our intention to directly share the companies' operating success with our unitholders and shareholders through growth in cash distributions, which we have done every quarter since the Partnership's initial public offering in December 2002, and growth in dividends." About the Crosstex Energy Companies Crosstex Energy, L.P., a midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. natural gas company headquartered in Dallas, operates approximately 4,500 miles of pipeline, five processing plants and over 60 natural gas amine amine (əmēn`, ăm`ēn): see under amino group. amine Any of a class of nitrogen-containing organic compounds derived, either in principle or in practice, from ammonia (NH3). treating plants. The Partnership currently provides services for over 1.5 BCF/day of natural gas. Crosstex Energy Inc. owns the general partner, a 54.3 percent limited partner interest and the incentive distribution rights of Crosstex Energy, L.P. Additional information about the companies can be found at www.crosstexenergy.com. This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Although the companies believe that the expectations reflected in the forward-looking statements are reasonable, they can give no assurance that such expectations will prove to be correct. |
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