DCP Midstream LP | 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (DCP.PRB)

Prospectus excerpt:  We are offering 6,000,000 of our 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, with a liquidation preference of $25.00 per unit (the “Series B Preferred Units”). Distributions on the Series B Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of March, June, September and December when, as and if declared by DCP Midstream GP, LLC, the general partner of our general partner, DCP Midstream GP, LP. The pro-rated initial distribution on the Series B Preferred Units offered hereby will be payable on September 15, 2018 in an amount equal to approximately $0.6781 per Series B Preferred Unit. Distributions on the Series B Preferred Units will be payable out of amounts legally available therefor from and including the date of original issue to, but not including, June 15, 2023 at a rate equal to 7.875% per annum of the $25.00 liquidation preference. On and after June 15, 2023 distributions on the Series B Preferred Units will accumulate at a percentage of the $25.00 liquidation preference equal to an annual floating rate of the three-month LIBOR plus a spread of 4.919%.

Full Prospectus PDF », DCP Page »

Alternate symbology:DCP-B, DCP-PB, DCPprB
Call Date:6/15/2023
Shares Offered:6,000,000
Liquidation Preference:$25
Recent Market Price:$24.17
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.83 (-3.32%)
Annualized Dividend:1.9688
Recent Ex-Date:11/30/2021
Current Yield:8.15%
Original Coupon:7.88%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn DCP.PRB's Rating
DCP Midstream is a holding company. Through its subsidiaries, Co. owns, operates, acquires and develops a portfolio of midstream energy assets. Co.'s segments are: Logistics and Marketing, which includes purchasing natural gas liquids (NGLs) on behalf of third-party NGL producers for shipment on Co.'s NGL pipelines and resale in primary markets; and Gathering and Processing, which includes gathering, compressing, treating, and processing natural gas, producing and fractionating NGLs, and recovering condensate. Co.'s Gathering and Processing segment's operations are organized into four regions: North, Permian, Midcontinent and South.

Preferreds: DCP.PRB, DCP.PRC

Open the DCP Information Page »
DCP Midstream LP
Oil & Gas Equipment & Services
Number of ETFs Holding DCP: 
5 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

DCP Midstream LP | 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (DCP.PRB) Information Page | Preferred Stock Channel |

Copyright © 2010 - 2021, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.