Williams, Williams Partners Announce 2016 Dividend
OREANDA-NEWS. Williams (NYSE: WMB) and Williams Partners (NYSE: WPZ) today announced dividend and distribution growth guidance for 2016. The financial guidance is included in the presentations the company and partnership have posted for their annual Analyst Day event, which is tomorrow, May 14. The presentations are available for viewing and downloading at www.williams.com and www.williamslp.com.
In addition to in-depth information on the energy infrastructure business segments, the presentations contain financial guidance consistent with guidance issued earlier in May for years 2014 and 2015 and additional guidance for 2016. Williams expects rapidly growing distributions for WPZ and Access Midstream Partners, L.P. (NYSE: ACMP), including distributions from its LP and GP interests including incentive distribution rights, to drive 20 percent dividend growth at Williams through 2016.
Williams Partners expects, at the midpoint of guidance ranges, per LP unit annual distribution growth of 6 percent in each 2014 and 2015 and 4.5 percent in 2016. Williams Partners expects cash distribution coverage of 1.03 in 2015 and 1.05 in 2016.
"With this extension of our guidance, the expected 2016 dividend is more than five times the level of the 2010 dividend," said Alan Armstrong, Williams' chief executive officer. "We're pleased to continue this pace of high dividend and distribution growth and reward shareholders as we serve customer needs by connecting the best supplies of natural gas and natural gas liquids to the highest-value markets."
Members of Williams' senior management team are scheduled to present between approximately 8:45 a.m. EDT to 2 p.m. EDT tomorrow. Additionally, management of ACMP will provide a presentation on ACMP's business.
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