BRIEF-Altagas Q2 adjusted FFO per share C$0.75

Thu Jul 21, 2016 8:14am EDT
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July 21 (Reuters) - Altagas Ltd

* Increased share dividend by $0.01/share per month to $2.10/share annualized beginning with September 15, 2015 payment, 6.1 percent increase

* Continues to expect to deliver overall normalized ebitda growth of approximately 20 percent in 2016 compared to 2015

* Altagas continues to expect normalized funds from operations to grow by up to approximately 15 percent in 2016

* Non-utility workforce restructuring completed in June expected to reduce operating, administrative expenses by about $7 million on annualized basis

* Liquids separation facility is expected to cost approximately $60 to $80 million

* Altagas ltd. reports strong second quarter results and increases dividend 6.1 percent

* Q2 adjusted FFO per share C$0.75

* In June, completed restructuring reducing non-utility workforce by about 10 percent;total pre-tax restructuring costs incurred were about $7 million

* Expects to receive permits, reach final investment decision in 2016,operations to begin in first half of 2018

* In early stages of development of a liquids separation facility which will serve producers in deep basin region of northwest Alberta Source text for Eikon: Further company coverage: