NGL Energy Partners Announces Quarterly Distributions
January 24 2020 - 6:30AM
Business Wire
NGL Energy Partners LP (NYSE: NGL) announced today that the
Board of Directors of its general partner has declared a quarterly
distribution of $0.39 per unit, or $1.56 per unit on an annualized
basis, for the quarter ended December 31, 2019. This cash
distribution is payable on February 14, 2020 to common unitholders
of record at the close of business on February 7, 2020.
Additionally, the Board of Directors declared a cash
distribution in the required amount of $6,075,062.50, which amount
represents 50% of the Class D Distribution Amount to be paid to the
holders of the Class D Preferred Units and the Class D Stated Value
shall automatically increase by the non-cash accretion amount of
$6,075,062.50, both for the quarter ended December 31, 2019. The
Class D Preferred distribution will also be made on February 14,
2020.
Forward-Looking Statements
This press release includes “forward-looking statements.” 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. While NGL believes such forward-looking statements
are reasonable, NGL cannot assure they will prove to be correct.
The forward-looking statements involve risks and uncertainties that
affect operations, financial performance, and other factors as
discussed in filings with the Securities and Exchange Commission.
Other factors that could impact any forward-looking statements are
those risks described in NGL’s annual report on Form 10-K,
quarterly reports on Form 10-Q, and other public filings. 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.” NGL undertakes no obligation to
publicly update or revise any forward-looking statements except as
required by law.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL
owns and operates a vertically integrated energy business with
three primary business segments: Crude Oil Logistics, Water
Solutions, and Liquids. For further information, visit the
Partnership’s website at www.nglenergypartners.com.
This release is a qualified notice under Treasury Regulation
Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL
Energy Partner LP’s distributions to foreign investors as being
attributable to income that is effectively connected with a United
States trade or business. Therefore, distributions to foreign
investors are subject to federal income tax withholding at the
highest applicable effective tax rate.
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version on businesswire.com: https://www.businesswire.com/news/home/20200124005054/en/
NGL Energy Partners LP Trey Karlovich, 918.481.1119 Executive
Vice President and Chief Financial Officer Trey.Karlovich@nglep.com
or Linda Bridges, 918.481.1119 Senior Vice President – Finance and
Treasurer Linda.Bridges@nglep.com
NGL Energy Partners (NYSE:NGL)
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