Genesis Energy (NYSE:GEL)
Historical Stock Chart
6 Months : From Jan 2019 to Jul 2019
Genesis Energy, L.P. (NYSE: GEL) announced today that, on April 10,
2019, the Board of Directors of its general partner declared a
distribution on Genesis’ common units and 8.75% Class A Convertible
Preferred Units attributable to the quarter ended March 31, 2019. These
distributions will be paid on May 15, 2019 to holders of record at the
close of business on May 1, 2019.
Each holder of common units will be paid a quarterly cash distribution
of $0.55 ($2.20 on an annualized basis) for each common unit held of
record. With respect to the preferred units, Genesis declared a
payment-in-kind of the portion of the quarterly distribution
attributable to the first two months of the quarter, resulting in the
issuance of an additional approximately 364,180 preferred units (“PIK
units”), and for the portion of the quarterly distribution attributable
to the final month of the quarter, Genesis will pay a cash distribution
of $0.2458 for each preferred unit held of record. This distribution to
the preferred units equates to a quarterly distribution of $0.7374 per
preferred unit ($2.9496 on an annualized basis). The PIK units will be
issued in book-entry form on the payment date. This is the final quarter
that any portion of the quarterly distribution to the preferred units
will be paid in PIK units.
Genesis Energy, L.P. is a diversified midstream energy master limited
partnership headquartered in Houston, Texas. Genesis’ operations include
offshore pipeline transportation, sodium minerals and sulfur services,
marine transportation and onshore facilities and transportation.
Genesis’ operations are primarily located in Texas, Louisiana, Arkansas,
Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190412005031/en/
Genesis Energy, L.P.Ryan SimsSVP- Finance and Corporate