DCP Midstream Announces Distributions on Its Common Units and Series A Preferred Units

DENVER, April 24, 2018 -- DCP Midstream, LP (NYSE:DCP) announced today that the board of directors of its general partner declared a first quarter 2018 common unit distribution of $0.78 per unit, or $3.12 per unit on an annualized basis. This quarterly common unit distribution will be paid May 15, 2018 to common unitholders of record at the close of business on May 8, 2018.

The board of directors of DCP’s general partner also declared an initial semi-annual Series A preferred unit distribution of $41.9965 per unit, which includes the distribution attributable to the partial-period from and including the date of original issue. This cash distribution will be paid June 15, 2018 to preferred unitholders of record at the close of business on June 1, 2018.

This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of DCP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, DCP’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

ABOUT DCP MIDSTREAM, LP
DCP Midstream, LP (NYSE:DCP) is a midstream master limited partnership, with a diversified portfolio of assets, engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; and producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate. DCP owns and operates 60 plants and more than 60,000 miles of natural gas and natural gas liquids pipelines, with operations in 17 states across major producing regions, and leads the midstream segment as one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. Denver, Colorado based DCP is managed by its general partner, DCP Midstream GP, LP, which is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC. DCP Midstream, LLC is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.