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Article: Kayne Anderson Energy Development Company Provides Update on Distributions from Portfolio Companies.
- Article from:
- Business Wire
- Article date:
- May 1, 2009
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HOUSTON -- Kayne Anderson Energy Development Company (the "Company") (NYSE: KED) announced today that the decision by Eagle Rock Energy Partners, L.P. ("Eagle Rock") to temporarily reduce its distribution will decrease the Company's distributable cash flow by approximately $0.05 per share on a quarterly basis. KED owned approximately 1.6 million Eagle Rock common units as of February 28, 2009, substantially all of which were received as partial consideration for the sale of Millennium Midstream Partners, LP.
"While there have been other reductions in distributions from MLPs in our portfolio, such as BreitBurn Energy Partners L.P., Hiland Partners, LP and Atlas ...