MarkWest Hydrocarbon Declares Quarterly Cash
Dividend of $0.36 Per Share
DENVER--(BUSINESS WIRE)--Jan. 25, 2008--MarkWest Hydrocarbon, Inc.
(AMEX: MWP) (the "Company") today announced that its Board of
Directors declared a cash dividend of $0.36 per share of common stock
for the fourth quarter of 2007, for an implied annual dividend rate of
$1.44 per share. This represents no change from the third quarter of
2007. Pursuant to a covenant contained in the redemption and merger
agreement with MarkWest Energy Partners, L.P. announced on September
5, 2007, the Company is prohibited from declaring any dividend greater
than the per share dividend for the second quarter of 2007.
The fourth quarter 2007 dividend is payable on February 15, 2008,
to the stockholders of record as of the close of business on February
8, 2008. The ex-dividend date is February 6, 2008.
MarkWest Hydrocarbon, Inc. (AMEX: MWP) controls and operates
MarkWest Energy Partners, L.P. (NYSE: 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. Actual
results could vary significantly from those expressed or implied in
such statements and are subject to a number of risks and
uncertainties. 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, 2006, as
amended, as filed with the SEC. You are urged to carefully review and
consider the cautionary statements and other disclosures made in those
filings, specifically those under the heading "Risk Factors." We do
not undertake any duty to update any forward-looking statement.
Although we believe that the expectations reflected in the
forward-looking statements, specifically those referring to future
performance, growth, cash flow, operating income, distributable cash
flow (DCF), distributions, or other factors, are reasonable, these
forward-looking statements are not guarantees of future performance,
and we can give no assurance that such expectations will prove to be
correct and that projected performance or distributions may not be
achieved. Among the factors that could cause results to differ
materially are those risks discussed in our Form S-1, as amended, our
Annual Report on Form 10-K for the year ended December 31, 2006, as
amended, and our Quarterly Reports on Form 10-Q, each as filed with
the SEC. You are also urged to carefully review and consider the
cautionary statements and other disclosures, including those under the
heading "Risk Factors," made in those filings, which identify and
discuss significant risks, uncertainties and various other factors
that could cause actual results to vary significantly from those
expressed or implied in the forward-looking statements. We do not
undertake any duty to update any forward-looking statement.
MarkWest Energy Partners and MarkWest Hydrocarbon filed a
definitive joint proxy statement/prospectus and other documents with
the Securities and Exchange Commission (the "SEC") in relation to the
merger transaction announced on September 5, 2007. Investors and
security holders are urged to read these documents carefully when they
become available because they will contain important information
regarding MarkWest Energy Partners, MarkWest Hydrocarbon, and the
transaction. A definitive joint proxy statement/prospectus will be
sent to security holders of MarkWest Energy Partners and MarkWest
Hydrocarbon seeking their approval of the transactions contemplated by
the redemption and merger agreement. Investors and security holders
may obtain a free copy of the joint proxy statement/prospectus (when
it is available) and other documents containing information about
MarkWest Energy Partners and MarkWest Hydrocarbon, without charge, at
the SEC's website at www.sec.gov. Copies of the joint proxy
statement/prospectus and the SEC filings that will be incorporated by
reference in the joint proxy statement/prospectus may also be obtained
free of charge by directing a request to the entities' investor
relations department at 866-858-0482, or by accessing their website at
www.markwest.com.
MarkWest Energy Partners, MarkWest Hydrocarbon, the officers and
directors of the general partner of MarkWest Energy Partners, and the
officers and directors of MarkWest Hydrocarbon may be deemed to be
participants in the solicitation of proxies from their security
holders. Information about these persons can be found in the Annual
Report on Form 10-K for each of MarkWest Energy Partners and MarkWest
Hydrocarbon, as filed with the SEC, and additional information about
such persons may be obtained from the joint proxy
statement/prospectus.
This document shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of a prospectus
meeting the requirements of the Securities Act of 1933, as amended.
CONTACT: MarkWest Hydrocarbon, Inc.
Frank Semple, 866-858-0482
President & CEO
or
Nancy Buese, 866-858-0482
Senior VP & CFO
or
Andy Schroeder, 866-858-0482
VP Finance & Treasurer
Fax: 303-925-9308
investorrelations@markwest.com
www.markwest.com
.