DALLAS, April 29 /PRNewswire-FirstCall/ -- The Crosstex Energy companies,
Crosstex Energy, L.P. (Nasdaq: XTEX) (the "Partnership") and Crosstex Energy,
Inc. (Nasdaq: XTXI) (the "Corporation"), today announced an increase in first
quarter distributions and dividends as follows:
* Quarterly distributions on the Partnership's common and subordinated
units will increase from $0.45 per unit to $0.46 per unit, payable
May 20 to unitholders of record on May 9.
* Quarterly dividends on the Corporation's common stock will increase
from $0.39 per share to $0.41 per share, payable May 20 to
stockholders of record on May 9.
The companies have increased distributions and dividends every quarter
since the initial public offering of each company.
"For the two years that the Partnership has paid quarterly distributions,
our unitholders have realized a compounded annual growth rate of 36 percent in
their distributions, and our stockholders have realized a 37 percent increase
in dividends in the Corporation's first full year of paying dividends," said
Barry E. Davis, President and Chief Executive Officer of the Crosstex Energy
companies. "Our record of consecutive quarterly increases reinforces our
commitment to help ensure growth in investors' returns as we continue to
implement Crosstex's own growth strategy."
About the Crosstex Energy Companies
Crosstex Energy, L.P., a mid-stream natural gas company headquartered in
Dallas, operates over 4,500 miles of pipeline, five processing plants, and
over 80 natural gas amine treating plants. Crosstex currently provides
services for over 1.9 BCF/day of natural gas.
Crosstex Energy, Inc. owns the general partner, a 54 percent limited
partner interest and the incentive distribution rights of Crosstex Energy,
Additional information about the Crosstex companies can be found at
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements other
than statements of historical facts included herein 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.
Contact: Barry E. Davis, President and Chief Executive Officer
William W. Davis, Executive V.P. and Chief Financial Officer
Phone: (214) 953-9500
SOURCE Crosstex Energy, L.P.
/CONTACT: Barry E. Davis, President and Chief Executive Officer, or
William W. Davis, Executive V.P. and Chief Financial Officer, both of Crosstex
Energy, L.P., +1-214-953-9500/
/Web site: http://www.crosstexenergy.com /
CO: Crosstex Energy, L.P.; Crosstex Energy, Inc.
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0100 04/29/2005 12:20 EDT http://www.prnewswire.com