DCP Midstream Announces Quarterly Distribution

DENVER, Jan. 26, 2017 -- DCP Midstream, LP (NYSE:DCP) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.78 per common unit for the quarter ended December 31, 2016, or $3.12 per unit on an annualized basis, which remains unchanged from the previous quarter. This quarterly cash distribution will be paid February 14, 2017 to unitholders of record at the close of business on February 7, 2017, except that the owners of the Partnership's general partner will receive distributions on the units issued on January 1, 2017, beginning with the first quarter 2017 declared distribution.

This serves as qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b).  Please note that 100 percent of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business.  Accordingly, the Partnership'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; producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate. DCP owns and operates more than 60 plants and 64,000 miles of natural gas and natural gas liquids pipelines, with operations in 17 states across major producing regions and leads the midstream segment as the largest natural gas liquids producer, the largest natural gas processor and one of the largest marketers 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 Phillips 66 and Spectra Energy. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.