DALLAS--(BUSINESS WIRE)--Jan. 19, 2012--
The Crosstex Energy companies today announced the declaration of the
quarterly distribution for Crosstex Energy, L.P. (NASDAQ: XTEX) (the
Partnership) and the quarterly dividend for Crosstex Energy, Inc.
(NASDAQ: XTXI) (the Corporation) from the fourth quarter of 2011:
The quarterly distribution on the Partnership’s common units will be
$0.32 per unit. The distribution is payable February 14 to unitholders
of record February 1. This amount is approximately a 23 percent
increase over the fourth-quarter 2010 rate.
The quarterly dividend on the Corporation’s common stock will be $0.11
per share. The dividend is payable February 14 to shareholders of
record February 1. This amount is approximately a 38 percent increase
over the fourth-quarter 2010 rate.
“These increases reflect our estimates of improved performance in the
fourth-quarter of 2011 and the progress of our announced growth
projects,” said Barry E. Davis, Crosstex President and Chief Executive
Officer. “We will issue 2012 Guidance in conjunction with our
fourth-quarter and full-year 2011 earnings release. We expect it to be
consistent with our previously issued guidance of distribution growth in
excess of 10 percent and dividend growth in excess of 20 percent for
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, Texas, operates approximately 3,300 miles of pipeline, nine
processing plants and three fractionators. Crosstex Energy, L.P.
currently provides services for 3.2 billion cubic feet of natural gas
per day, or approximately six percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner interest, a
25 percent limited partner interest and the incentive distribution
rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at www.crosstexenergy.com.
This press release contains forward-looking statements within the
meaning of the federal securities laws. These statements are based on
certain assumptions made by the Partnership and the Corporation based
upon management's experience and perception of historical trends,
current conditions, expected future developments and other factors the
Partnership and the Corporation believe are appropriate in the
circumstances. These statements include, but are not limited to,
statements with respect to results of operations and future growth and
dividend and distribution guidance. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are beyond
the control of the Partnership and the Corporation, which may cause the
Partnership's and the Corporation's actual results to differ materially
from those implied or expressed by the forward-looking statements. These
risks include, but are not limited to, risks discussed in the
Partnership's and the Corporation's filings with the Securities and
Exchange Commission. The Partnership and the Corporation have no
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
Source: Crosstex Energy
Jill McMillan, Director, Public &
Industry Affairs, 214-721-9271