MarkWest Hydrocarbon Declares a 10% Stock Dividend and a Quarterly Cash Dividend of $0.175 Per Share
April 27 2006 - 6:37PM
PR Newswire (US)
DENVER, April 27 /PRNewswire-FirstCall/ -- MarkWest Hydrocarbon,
Inc. (AMEX:MWP), today announced that its Board of Directors
declared a stock dividend of one share of MarkWest's common stock
for each ten shares of common stock held by MarkWest's common
stockholders. The stock dividend is to be paid on May 23, 2006, to
the stockholders of record as of the close of business on May 11,
2006. The ex-dividend date is May 9, 2006. The Company does not
intend to issue fractional shares, and each stockholder will be
paid in cash in lieu of fractional shares, if any, based upon the
last sale price on the record date. The broker "cut-off" date is
May 18, 2006. MarkWest Hydrocarbon, Inc. also announced that its
Board of Directors declared a quarterly cash dividend of $0.175 per
share of its common stock for an implied annual rate of $0.70 per
share. This quarterly cash dividend represents an increase of $0.05
per share over the previous quarter's dividend. MarkWest's Board
has declared that the dividend is to be paid on June 5, 2006, to
the stockholders of record as of the close of business on May 26,
2006. The ex-dividend date is May 24, 2006. MarkWest Hydrocarbon,
Inc. (AMEX:MWP) controls and operates MarkWest Energy Partners,
L.P. (AMEX:MWE), a publicly traded limited partnership engaged in
the gathering, processing and transmission of natural gas; the
transportation, fractionation and storage of natural gas liquids;
and the gathering and transportation of crude oil. We also market
natural gas and NGLs. This press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical facts included or incorporated herein may constitute
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. The forward-looking statements involve risks
and uncertainties that affect our operations, financial performance
and other factors as discussed in our filings with the Securities
and Exchange Commission. Among the factors that could cause results
to differ materially are those risks discussed in our Form 10-K for
the year ended December 31, 2005 as filed with the SEC. DATASOURCE:
MarkWest Hydrocarbon, Inc. CONTACT: Frank Semple, President &
CEO, or Jim Ivey, CFO, or Andy Schroeder, VP and Treasurer, all of
MarkWest Hydrocarbon, Inc., +1-303-290-8700, Web site:
http://www.markwest.com/
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