{"id":31470,"date":"2012-07-30T11:53:00","date_gmt":"2012-07-30T11:53:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/boardwalk-bwp-announces-quarterly-distribution-of-0-5325-per-unit\/31470\/"},"modified":"2012-07-30T11:53:00","modified_gmt":"2012-07-30T11:53:00","slug":"boardwalk-bwp-announces-quarterly-distribution-of-0-5325-per-unit","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boardwalk-bwp-announces-quarterly-distribution-of-0-5325-per-unit\/31470\/","title":{"rendered":"Boardwalk &#8211; BWP &#8211; Announces Quarterly Distribution of $0.5325 Per Unit"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2012\/07\/BWP.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-31484\" title=\"BWP\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2012\/07\/BWP.png\" alt=\"\" width=\"223\" height=\"137\"><\/a>Boardwalk Pipeline Partners, LP, (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=BWP\">NYSE:BWP<\/a>)<\/strong> announced that it has declared a quarterly cash distribution per common unit of $0.5325 ($2.13 annualized) payable on August 16, 2012, to unitholders of record as of August 9, 2012.<\/p>\n<p>The Partnership also announced its results for the second quarter and six months ended June 30, 2012, which included the following items:<\/p>\n<ul>\n<li>BWP Operating revenues of $275.8 million for the quarter and $588.7 million for the six months ended June 30, 2012, a 5% and 3% increase from $262.0 million and $573.0 million in the comparable 2011 periods;<\/li>\n<li>Net income of $65.1 million for the quarter and $157.7 million for the six months ended June 30, 2012, a 328% and 61% increase from $15.2 million and $98.2 million in the comparable 2011 periods;<\/li>\n<li>Earnings before interest, taxes, depreciation and amortization (EBITDA) of $169.3 million for the quarter and $366.7 million for the six months ended June 30, 2012, a 52% and 23% increase from $111.4 million and $298.6 million in the comparable 2011 periods; and<\/li>\n<li>Distributable cash flow of $130.2 million, for the quarter and $257.4 million for the six months ended June 30, 2012, a 47% and 27% increase from $88.4 million and $202.3 million in the comparable 2011 periods.<\/li>\n<\/ul>\n<p>Operating revenues for the second quarter of 2012 increased $13.8 million compared to the second quarter of 2011, driven by $12.6 million of revenues contributed by Boardwalk HP Storage Company, LLC (HP Storage) which was acquired in the first quarter of 2012, an increase in firm transportation revenues, excluding fuel, of $7.5 million and an increase in parking and lending and storage revenues of $4.6 million. The increases in operating revenues were partially offset by the effects of lower natural gas prices on fuel revenues. Operating expenses for the quarter were favorable by $40.1 million as compared with the 2011 period mainly due to a $28.5 million impairment charge related to materials and supplies which impacted the 2011 period. In addition, operating expenses were lower due to favorable fuel expenses from lower natural gas prices and lower general and administrative expenses, partly offset by the operating expenses of HP Storage.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Operating results on a year-to-date basis were impacted by the revenue and expense factors discussed above. The 2011 period included a $7.4 million loss on the early extinguishment of debt and a $5.0 million charge related to a fire at a compressor station near Carthage, Texas.<\/p>\n<p><strong>BWP \u00a0&#8211; Capital Program<\/strong><\/p>\n<p>Growth capital expenditures were $54.5 million and maintenance capital expenditures were $36.4 million for the six months ended June 30, 2012.<\/p>\n<p><strong>About Boardwalk &#8211; BWP<\/strong><\/p>\n<p>Boardwalk Pipeline Partners, LP (BWP) is a limited partnership engaged, through its subsidiaries, in the transportation, storage and gathering of natural gas. Boardwalk operates approximately 14,300 miles of pipeline and underground storage fields with aggregate working gas capacity of approximately 186 Bcf. Boardwalk is a subsidiary of Loews Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: L), which holds 61% of Boardwalk&#8217;s equity, excluding incentive distribution rights.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120801031246\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fthestockmarketwatch.com%2Fstock-market-news%2Fboardwalk-bwp-announces-quarterly-distribution-of-0-5325-per-unit%2F31470&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/commvault-cvlt-expands-fujitsu-partnership\/31536\">\nCommVault &#8211; CVLT &#8211; Expands Fujitsu Partnership<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/american-financial-group-afg-pleased-with-strong-pc-underwriting-results-and-record-operating-earnings-in-annuity-and-supplemental-businesses\/31537\">\nAmerican Financial Group &#8211; AFG &#8211; Pleased with strong P&#038;C underwriting results and record operating earnings in annuity and supplemental businesses<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/allot-communications-allt-reports-43-revenue-rise-for-second-quarter-of-2012\/31538\">\nAllot Communications &#8211; ALLT &#8211; Reports 43% Revenue Rise for Second Quarter of 2012<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/u-s-stocks-inch-higher-helped-by-unexpectedly-stronger-economic-indicators\/31550\">\nU.S. Stocks Inch Higher Helped By Unexpectedly Stronger Economic Indicators<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/impax-laboratories-ipxl-positive-second-quarter-results\/31539\">\nImpax Laboratories &#8211; IPXL &#8211; Positive second quarter results<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/coach-coh-strong-double-digit-sales-and-earnings-gains\/31540\">\nCoach &#8211; COH &#8211; Strong double-digit sales and earnings gains<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/the-goodyear-tire-rubber-company-gt-business-is-on-track-to-achieve-its-2013-target-one-year-ahead-of-plan\/31541\">\nThe Goodyear Tire &#038; Rubber Company &#8211; GT &#8211; Business is on track to achieve its 2013 target, one year ahead of plan<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boardwalk Pipeline Partners, LP, (NYSE:BWP) announced that it has declared a quarterly cash distribution per common unit of $0.5325 ($2.13 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[3071],"class_list":["post-31470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-bwp"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/31470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=31470"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/31470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=31470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=31470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=31470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}