HOUSTON, July 23, 2015 (GLOBE NEWSWIRE) -- PennTex Midstream Partners, LP (NASDAQ:PTXP) (the "Partnership") announced today that the Board of Directors of its general partner has approved a prorated cash distribution of $0.0665 per unit for the second quarter 2015.
This is the first distribution declared by the Partnership, and the amount corresponds to the prorated minimum quarterly distribution of $0.275 per unit, or $1.10 per unit on an annualized basis, adjusted for the 22-day period following the closing of the Partnership's initial public offering on June 9, 2015 through June 30, 2015. The distribution will be paid on August 14, 2015 to unitholders of record as of August 4, 2015.
About PennTex Midstream Partners, LP
PennTex Midstream Partners, LP is a growth-oriented master limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. PTXP provides natural gas gathering and processing and residue gas and natural gas liquids transportation services to producers in the Terryville Complex in northern Louisiana. For more information, visit www.penntex.com.
This release serves as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) that 100% 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.