Quarterly Distributions Announced for Tallgrass Energy Shareholders

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Tallgrass Energy Partners, a Kansas City area based company that ships oil to the Cushing terminal in Oklahoma announced quarterly distributions this week for the second quarter of 2016. The distributions will be paid on Friday, Aug. 12 to unitholders and shareholders of record on the close of business on Friday, July 29, 2016.

The board of directors of TEP’s general partner declared a quarterly cash distribution of $0.755 per common unit for the second quarter of 2016, or $3.02 on an annualized basis. This represents a sequential increase of 7.1 percent from the first quarter 2016 distribution of $0.705 per common unit and an increase of 30.2 percent from the second quarter 2015 distribution of $0.58 per common unit. It is TEP’s twelfth consecutive increase since its IPO in May 2013.

The increase is consistent with TEP’s plan to recommend to the Board of Directors of its general partner increases in its second and third quarter 2016 distributions that will aggregate to approximately $0.09 over the first quarter 2016 distribution of $0.705. TEP acquired a 25 percent membership interest in Rockies Express Pipeline in May 2016.

The board of directors of TEGP’s general partner declared a quarterly cash distribution of $0.245 per Class A share for the second quarter of 2016, or $0.98 annualized basis. This represents a sequential increase of 16.7 percent from the first quarter 2016 distribution of $0.21 per Class A share and an increase of 84.2 percent from the pro forma full-quarter (non-prorated) second quarter 2015 distribution per Class A share. It is TEGP’s fourth consecutive increase since its IPO in May 2015.