A dirt-cheap 8.5%-yielding FTSE 100 dividend stock that I’d buy for 2020

first_imgA dirt-cheap 8.5%-yielding FTSE 100 dividend stock that I’d buy for 2020 Image source: Getty Images. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Alan Oscroft | Friday, 17th January, 2020 | More on: MNG Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.center_img Alan Oscroft has no position in any of the shares mentioned. The Motley Fool UK has recommended Imperial Brands and Prudential. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. The latest Dividend Dashboard from AJ Bell lists the FTSE 100 companies forecast to deliver the biggest dividend yields in 2020. The biggest are in double-digits, but I particularly like the cash expected from M&G (LSE: MNG).Forecasts suggest the asset manager will pay 8.5% in 2020. Earnings per share should cover it a little over two times, which gives me confidence.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…M&G was spun off from Prudential in October 2019 and since then, its share price has risen 10%. But we’re still looking at single-digit P/E multiples, which seems very cheap to me.I think the apparent undervaluation is largely down to two things. One is that a lot of Prudential shareholders who received M&G shares will have sold them quickly. The other is that the big investing institutions have steered clear as a result of uncertainty. M&G has no track record as an independent company and is changing its investment strategy, which makes it hard to value. They’ve probably adopted a wait-and-see stance.UndervaluationBut I think that hands-off approach has provided an attractive bargain for private investors. And I’m especially attracted to the firm’s dividend plans.M&G’s management intends to hand over special dividends over the next year or two, though we don’t know how much these will be yet. But some analysts are suggesting total yields, including ordinary dividends, of well in excess of 10%.It’s probably going to take at least a couple of years for M&G to settle into its groove and start producing results. We’ll need to see how EPS progresses, and what kind of long-term dividend cover we should expect. I doubt cover of two times will be sustainable for long, but anything around 1.5 times or better will satisfy me.As patient private investors, we don’t have the quarterly targets of the institutional investors. And with a long-term view, we can afford to buy and wait. I’ll be investing more pension fund cash in early 2020, and M&G is near the top of my list.Bigger dividendsThere are other, even bigger, FTSE 100 dividends I find tempting.Housebuilders should be paying out big cash in 2020 too, and I’m bullish on the sector. Taylor Wimpey tops the list with a forecast 2020 yield of 10.6%, and has just updated us. Despite a year of Brexit confusion, sales went well for Wimpey, though some cost pressure needs to be watched.There’s plenty of cash on the books, so I think the firm should be able to pay those big dividends comfortably. I think the shares are cheap, and I’m hoping for some price appreciation in addition to the dividend cash.Share crashThe Imperial Brands share price slumped in 2019, but has picked up as we enter 2020. It’s all been about uncertainty over next-generation smoking products, but the sentiment does seem to be turning.  The depressed share price has pushed the firm’s forecast dividend up to 12%, and I find that hard to resist.But if we really are at the start of a sustained recovery, investors might need to buy soon if they don’t want to miss such a big yield.Overall, I think 2020 will be another great year for income investors. See all posts by Alan Oscroftlast_img read more

Paquidermo Building / Martin Dulanto

first_imgArchitects: Martin Dulanto Area Area of this architecture project Lead Architect: ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/952226/paquidermo-building-martin-dulanto Clipboard ArchDaily ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/952226/paquidermo-building-martin-dulanto Clipboard Area:  364 m² Year Completion year of this architecture project Photographs:  Juan Solano, Renzo Rebagliati Manufacturers Brands with products used in this architecture project Paquidermo Building / Martin DulantoSave this projectSavePaquidermo Building / Martin Dulanto Year:  CopyApartments•Santa Maria del Mar, Peru Save this picture!© Juan Solano, Renzo Rebagliati+ 30Curated by Matheus Pereira Share Projects “COPY” 2018 Photographs Project Manager:Miguel GutiérrezCollaborators:Dora Gonzáles, Luz Veja, Luciana EscobarStructural Engineer:Jorge AvendañoCity:Santa Maria del MarCountry:PeruMore SpecsLess SpecsSave this picture!© Juan Solano, Renzo RebagliatiRecommended ProductsDoorsSaliceSliding Door System – Slider S20DoorsVitrocsaGlass Technology in Hotel BeaulacMetallicsStudcoWall Stop Ends – EzyCapWindowsAir-LuxSliding Window – CurvedText description provided by the architects. The taking of part of this project, consists of 3 independent departments for members of the same family, arises the need of the client to have privacy with respect to his neighbors. The land where he building is located has 2 lots, although one of them (the posterior) looks directly to the sea, the other one, the main one, faces to a multifamily building of 9 floors of height, whose windows look directly to the Pachyderm Building, generating the sensation of being directly exposed. To solve his problem, 2 measures are taken: On the one hand, the façade which looks at the main entrance is considered fairly closed, with small windows which are enough to allow proper ventilation and natural lighting of the environment’s that are facing this façade without being exposed to the exterior.Save this picture!© Juan Solano, Renzo RebagliatiOn the other hand, the project is recessed from the northern boundary, generating a passage between the building and the neighbor’s house. This passage fulfills the function of a patio through which all the environments ventilate and illuminate naturally. The building presents a transition between the 3 façades, which goes from the closest in the east as it faces the neighbors, evolving to a semi-open in the lateral façade, to finally opening almost entirely to the west front and thus be able to appreciate the immensity of the Pacific Ocean. The project has the following environment’s: Basement 2: On this level there is an entrance hall, parking for 6 cars, and the machine room. Basement 1: On this level there is an entrance hall, parking for 4 cars, 2 service bedrooms that share 1 service bathroom, deposit, service lounge, and laundry room. First level: On this level, in addition of the guest garage, the first department is located, which has a living room, terrace, dining room, kitchen, guest bathroom, master bedroom with a walk-in closet and bathroom, 2 secondary bedrooms with bathroom, and a deposit.Save this picture!© Juan Solano, Renzo RebagliatiSave this picture!Roof planSave this picture!© Juan Solano, Renzo RebagliatiSecond level: At this level, the second department is located, which has a hall, living room, terrace, dining room, kitchen, guest bathroom, master bedroom with a walk-in closet and bathroom, 2 secondary bedrooms with bathroom, service bedroom with bathroom, and he laundry room. Third level: On this level, we can find the ground floor of the third department, which has a hall, living room, terrace, dining room, kitchen, guest bathroom, master bedroom with a bathroom, secondary bedroom with bathroom, service bedroom with bathroom, and he laundry room. Rooftop: At this level, the second plan of the third department is located, where there is basically a bedroom with its bathroom, the common area of the building with a small hall, a changing bathroom, and in the terrace a dining room, living room, barbecue area, sunbathing area, pool, and a patio.Save this picture!© Juan Solano, Renzo RebagliatiProject gallerySee allShow lessDos Casas Quimilar / S+S arquitectasSelected ProjectsLangdon Park Extension in Highgate / Russell JonesSelected ProjectsProject locationAddress:Santa Maria del Mar, PeruLocation to be used only as a reference. It could indicate city/country but not exact address. Share Manufacturers: Casa Rosselló “COPY” Martín Dulanto Sangalli Peru Apartments Paquidermo Building / Martin Dulanto CopyAbout this officeMartin DulantoOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsSanta Maria del MarOn FacebookConcrete BuildingsPeruPublished on November 30, 2020Cite: “Paquidermo Building / Martin Dulanto” 30 Nov 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogSinkshansgroheBathroom Mixers – LogisVinyl Walls3MExterior Vinyl Finish – DI-NOC™ StonePartitionsSkyfoldWhere to Increase Flexibility in SchoolsTiles / Mosaic / GresiteCupa PizarrasVentilated Facade – CUPACLAD UprightGlassLAMILUXGlass Roof PR60ConcreteKrytonCrystalline Waterproofing – KIMSkylightsVELUX CommercialAtrium Longlight Skylights in ExperimentariumMetal PanelsLorin IndustriesAnodized Aluminum – Copper FinishesStonesFranken-SchotterWall Covering & CladdingWindowsRabel Aluminium SystemsMinimal Casement Windows – Rabel 8400 Slim Super Thermal PlusSwingsStudio StirlingHanging Chair – BasketWallcovering / CladdingArrigoni WoodsWood Cladding – AcousticMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

ColdFusion solution for clubs and societies

first_img  27 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis ActivityForum is a ColdFusion application that helps clubs and societies manage their membership and events.Highlander have developed ActivityForum, a Web-based membership and events management package for clubs and societies. It is built on content management system ColdFusion.The system lets groups maintain their Web sites through Web templates and helps them manage their membership subscriptions and renewals. Advertisement ColdFusion solution for clubs and societies AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img Howard Lake | 9 September 2001 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Deadline approaches for Spar Hero Next Door competition

first_imgNominating a Hero Next Door just requires filling in an online form with details of the person they are nominating and why.  167 total views,  2 views today About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Melanie May | 27 August 2019 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6  168 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis6 Deadline approaches for Spar Hero Next Door competition Tagged with: Awards Nominations for Spar’s Hero Next Door competition close on 31 August with a chance to win up to £10,000 for local communities.The competition asks people to nominate those doing ‘amazing work’ for their local sports team or club for the People’s Podium award. The grand prize is £10,000 for their club, with runners up winning £2,000.Last year Spar awarded gymnastic coach Mike Briggs £10,000 to help his local club in Dumfries improve its facilities. Runners up included Zahra Butt, a boxing coach from Nottingham, and Danny Antsey from the City of Plymouth Trampoline and Gymnastics Club.[youtube height=”450″width=”800″]https://www.youtube.com/watch?time_continue=1&v=OZKOJ7LS9y8[/youtube] Advertisementlast_img read more

Moore’s offense driving women’s basketball postseason success

first_imgThousands of TCU community members receive COVID-19 vaccines as university supply increases Settlement reached between TCU, former professor in discrimination lawsuit Previous articleHoroscope: March 28, 2018Next articleConstruction causes some Greek housing residents to walk farther distances to class Benton McDonald RELATED ARTICLESMORE FROM AUTHOR Facebook TCU baseball finds their biggest fan just by saying hello TCU rowing program strengthens after facing COVID-19 setbacks Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ ReddIt Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Junior Jordan Moore posted a double-double against LamarPhoto courtesy: GoFrogs.com ReddIt Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Twitter Benton McDonald is a senior journalism and political science double major from Austin, Texas. He has worked for TCU360 since his freshman year and is currently the executive editor. Chancellor talks stimulus money, COVID-19 vaccines and more at limited attendance faculty town hall + posts Linkedin Twitter Board approves tuition freeze, RRI actions but doesn’t act on eligibility issue spurred by Williams Linkedin printEighty-six percent.That’s Jordan Moore’s field goal percentage throughout the Horned Frogs’ four WNIT victories.The junior forward is averaging 17.8 points per game in the postseason and has only missed five shots on 35 attempts. Her offensive outburst has been a major reason why TCU is playing in their first-ever WNIT semifinal Wednesday night.“It’s pretty special, absolutely, what Jordan is doing,” TCU head coach Raegan Pebley said.Moore finished the regular season as the team’s second-leading scorer with 13.8 PPG, including a 28 point outing against Texas State. However, she entered the postseason on a bit of a cold stretch, averaging just 8.2 points per game over the final nine games of the regular season and Big 12 conference tournament.A cold streak that was thrown out the window when she scored 24 points on 10-11 shooting against Lamar in the first round of the WNIT and followed two games later with a 26-point performance in Sunday’s victory at South Dakota.“Honestly it’s just been my teammates giving me the ball in the right position,” Moore said when describing the factors that add up to her postseason prosperity.Pebley added that Moore’s willingness to attribute all of her success to her teammates is instilling a confidence in the rest of the team, which allows them to continue winning games late in the postseason.“She’s so quick to give the credit to her teammates,” Pebley said. “They’re the ones who are feeding her the ball at the right time, at the right place and that’s adding confidence as well.”Moore also believes that the team playing this late into March has taken their chemistry to another level, allowing them to better exploit the holes in defenses and find open teammates.“I feel like our chemistry has increased just because we’re all playing together and playing longer than we have before and it’s just helped us to find each other on the court better,” she said.As a team, the Horned Frogs have shot over 50 percent from the field in all four WNIT victories, including a season-high 61 percent from the field in their first-round victory over Lamar.With an offense clicking at just the right time and a player dominating whoever she faces, TCU is playing their best basketball of the season at the best time possible.“It’s so exciting,” Moore said. “It’s a really good feeling especially because we’re all playing so hard and just surviving and advancing every game.”The team will look to continue their run when they take on the Indiana Hoosiers Wednesday 6 p.m. in Bloomington, Indiana. Facebook Another series win lands TCU Baseball in the top 5, earns Sikes conference award Benton McDonaldhttps://www.tcu360.com/author/benton-mcdonald/ Benton McDonald last_img read more

Lawsuit against two journalists in the “Saxony Corruption Quagmire” – ROG demands an acquittal

first_imgNews July 30, 2010 – Updated on January 20, 2016 Lawsuit against two journalists in the “Saxony Corruption Quagmire” – ROG demands an acquittal GermanyEurope – Central Asia Follow the news on Germany Help by sharing this information Reporter ohne Grenzen (ROG) demands a clear acquittal in the criminal proceedings in Dresden against two Leipzig journalists. “Anything else would be scandalous,” said ROG board spokesperson Michael Rediske in Berlin. “A conviction would hinder any future reporting of corruption affairs and thereby infringe upon freedom of the press.”Even the opening of criminal proceedings against the freelance journalists Arndt Ginzel and Thomas Datt, who investigated the so-called “Saxony Corruption Quagmire,” was more than questionable. The co-plaintiffs did not even have the courage to pursue the supposed defaming statements under existing press laws. “A good deal in the case points to the desire on the part of authorities to exert pressure on investigative journalists,” criticized Rediske.On 5 August, the accused will present their closing words in court. The verdict is scheduled to be announced on 13 August.The charges arise from articles written in the news magazine Der Spiegel and in Zeit Online in 2008 on the “Saxony Corruption Quagmire” – a possible corruption affair that could have involved high-ranking members of the legal system. Ginzel and Datt were the authors of the Zeit Online report and co-authors of the Spiegel article. They have been accused of making insulting allegations, defamation, and libel.These accusations, criticizes ROG, only refer to particular formulations in the texts and have no bearing on the essence of the investigative reports.“This case is an attempt to unfairly criminalize journalistic practices. One of the most important functions of the media is to uncover abuses. A criminal conviction of the two journalists would have a deterrent affect on their colleagues also investigating this affair,” warns Rediske.“Compared internationally, the situation of freedom of the press in Germany is currently good. With its adherence to the rule of law, Germany is a model for many other states in the world, where journalists are routinely subject to arbitrary criminal proceedings. A conviction for the two reporters could put this status in question,” says Rediske. RSF_en News March 30, 2021 Find out more June 2, 2021 Find out more to go furthercenter_img May 31, 2021 Find out more Organisation German BND Act: A missed opportunity for press freedom Receive email alerts RSF asks Germany to let Myanmar journalist Mratt Kyaw Thu apply for asylum News News Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU GermanyEurope – Central Asia last_img read more

Man jailed for 1 year for stealing over €102,000 from The Cope

first_img Previous articlePriority infrastructure road projects in Donegal could cost €432MNext articleMet Eireann warns of hazardous conditions on Saturday News Highland A man has been jailed for 1 year for stealing €102,000 from The Cope, Annagry.52 year old Billy Mooney of St Peter’s Terrace, Dungloe took sums ranging from €2000 to €19,800 over a two year period from 2014 to 2016 while he was working there.Mr Mooney pleaded guilty to 18 charges of fraud and one of false accounting at Letterkenny Circuit Court.The court heard he stole the cash in a complex fraud at the company’s Annagry outlet but gardaí did not believe he spent the money on himself.Instead, its reported by RTE News, that he wired the money by Western Union Transfer to men he met online who claimed they had lost their jobs and whose families had become ill.The company became aware of the fraud when Mr Mooney told another employee that he was in trouble.CEO of the company, Mark Sharkey, contacted gardaí believing there had been a major fraud at the outlet.The court was told that none of the missing money has since been paid back to the company.Barrister for the accused, John McLaughlin, said the 52 year old got involved in chat rooms with other men and that in his mind he was in a romantic relationship. Man jailed for 1 year for stealing over €102,000 from The Cope RELATED ARTICLESMORE FROM AUTHOR Twitter Google+ Twitter Nine til Noon Show – Listen back to Monday’s Programme Homepage BannerNews Loganair’s new Derry – Liverpool air service takes off from CODA Arranmore progress and potential flagged as population grows Google+center_img News, Sport and Obituaries on Monday May 24th WhatsApp DL Debate – 24/05/21 By News Highland – December 13, 2018 Pinterest Facebook Important message for people attending LUH’s INR clinic Pinterest WhatsApp Facebooklast_img read more

Several rounds of snow squalls possible in Northeast after tornado hits Ohio

first_imgABC News(NEW YORK) — A complex set of disturbances brought snow and showers to the Northeast on Tuesday, as a dynamic system, including a tornado with winds reaching 97 mph, touched down in northeast Ohio. Several rounds of snow showers are continuing to move northeast Wednesday, with the snow squalls coming off the Great Lakes potentially quite intense. Brief whiteout conditions will be possible, including on major interstates such as I-80 and I-90. Wind gusts from the squalls locally could be more than 40 mph, including up through parts of New England.More than 6 inches of snow is possible along the Great Lakes and into parts of northern New England. Parts of New York closer to the Great Lakes could see as much as a foot. Wind chills on Thursday throughout much of the U.S. will be extremely cold.A meaningful but not blockbuster winter storm could be heading east this weekend.By Friday night and into Saturday, it appears two systems will become one organized system, bringing rain to the southern Plains and some snow to the Midwest and parts of the Mississippi River Valley.This same storm will slide off fairly quickly to the Ohio and Missouri River valleys on Saturday. A cold front approaching from the northwest will try to interact with this system, and, at the very least, the combination of systems should help draw more snow northward into the I-70 corridor.The storm then will shift toward the East Coast over the weekend. It doesn’t appear at this time that the two systems will completely phase together and create a blockbuster storm. The storm may intensify somewhat off the coast on Sunday.Although the likelihood of snowfall in parts of the Midwest and East Coast is increasing, it remains unclear the potential magnitude of this weather event. As of Wednesday morning, two reliable weather models are indicating there’s not enough support in forecasting a major storm this weekend.Meanwhile, the latest Pacific storm is delivering rain, gusty winds and snow to the West Coast.Boonville, California, just north of San Francisco, already has seen 3 inches of rain Wednesday morning. A wind gust of almost 80 mph was reported in Lagunitas Forest. This series of storms has over the last few days dumped at least 39 inches of snow at Donner Peak, at the Sugar Bowl Ski Resort.Local rainfalls in Northern California and southern Oregon could be heavy at times Wednesdayday, with raining moving into Los Angeles and potentially leading to localized flash flooding.Copyright © 2019, ABC Radio. All rights reserved.last_img read more

BskyB turns over to new staff development plans

first_img Previous Article Next Article BskyB turns over to new staff development plansOn 3 Apr 2001 in Personnel Today Related posts:No related photos. BskyBis revolutionising its HR strategy to improve staff development and thepotential for internal promotion, claims the company’s HR director.CraigMcCoy told delegates at a Scottish conference that BskyB had problems finding suitableinternal candidates for promotion and often had to head-hunt executives.“Therewere few existing management training and development programmes. There wererecruitment and retention issues in some areas and internal communicationsprocesses were not well developed,” McCoy said.The30-strong HR team was charged with changing this, but without “stifling theentrepreneurialism at the heart of the company”.Inautumn 2000, a survey of the 17,500 UK employees revealed a need for flexiblereward systems. Staff wanted a scheme based on development and non-cash rewardsrather than cost control.Allstaff are now given one-to-one performance meetings and training is provided inkey skills. A review of benefits is under way and jobs are to be benchmarked againstthe wider market.McCoy,who is the first HR director appointed at board level in the company, is tryingto establish HR as a strategic function at BSkyB. He said, “We will providedevelopment for executives and aspiring executives.” This, he believes, willhelp recruitment and retention and allow for more effective successionplanning.Atthe National Employment Conference, at Gleneagles, he said that to enhanceinternal communication, large-scale employee meetings with managers are beingundertaken, and staff are invited to monthly lunches with key seniorexecutives. ByColin Wright Comments are closed. last_img read more

Phillips 66 Partners to acquire stake in Liberty pipeline project in US

first_img Liberty pipeline is scheduled to commence operations in the first half of next year. (Credit: Pixabay/Adam Radosavljevic) Phillips 66 Partners has agreed to acquire Phillips 66’s 50% stake in the Liberty Pipeline project, US, in a deal worth $75m.The project is a 24in-diameter, 700-mile-long pipeline deigned to transport crude oil from the Rockies and Bakken production areas to Cushing, Oklahoma. It is scheduled to commence operations in the first half of next year.Liberty Pipeline project estimated to cost $1.6bnBeing constructed by a 50:50 joint venture (JV) between Phillips 66 and liquids pipeline operator Bridger Pipeline, the project is expected to cost $1.6bn on a gross basis or $800m net to the partnership.Phillips 66 Partners is planning to fund the stake acquisition in the pipeline through a combination of the revolving credit facility and available hand. The transaction is planned to be closed on 02 March 2020.Phillips 66 Partners chairman and CEO Greg Garland said: “The Liberty Pipeline is a great addition to the Phillips 66 Partners portfolio.“It is a strong organic project and continues our strategy of growing PSXP with stable fee-based cash flows, supported by long-term volume commitments.“Phillips 66 Partners is well positioned to execute this pipeline project on the heels of successfully starting up the Gray Oak Pipeline.“We remain committed to maintaining a strong financial position and disciplined capital allocation, investing in projects with attractive returns and delivering growing distributions to unitholders.”Phillips 66 Partners said that the project is supported by long-term volume commitments.On behalf of the joint venture, Phillips 66 is responsible for project construction and operation.The new pipeline is expected to use existing pipeline and utility corridors and advanced construction techniques wherever feasible in a bid to reduce environmental and community impact. Phillips 66 Partners to fund the transaction through a combination of the revolving credit facility and cash in handlast_img read more