DCP Midstream, LP 7.875 CUM RED B Price & Performance (DCP-PB)

DCP Midstream’s Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units has declared another quarterly dividend of $0.4922 per unit. This payout continues the company’s established pattern, providing income stability for holders despite the security’s defunct status since June 2023. Investors remain attentive to ongoing distributions.12

Recent disclosures show DCP Midstream LP 7.875% CUM RED B’s operating cash flow fluctuated significantly in past years, with figures ranging from negative $1 million to over $700 million. Capital expenditures, debt repayments, and free cash flow trends highlight the company’s complex financial journey prior to its delisting.34

A major investment fund revealed it exited DCP Midstream’s preferred shares in late 2021, citing improved valuation and new opportunities. The subsequent buyout by Phillips 66 at $41.75 per share marked a notable return for risk-tolerant investors, underscoring shifting dynamics in the midstream energy sector.54