Blueknight Declares Quarterly Distributions
October 18 2017 - 5:49PM
Business Wire
Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (Common Units)
(NASDAQ: BKEPP) (Preferred Units) ("BKEP" or the "Partnership"),
announced today that the board of directors of its general partner
has declared a quarterly cash distribution on the Partnership’s
common units of $0.1450 per common unit, unchanged from the
Partnership’s second quarter 2017 distribution, as well as a
quarterly cash distribution on the Partnership’s preferred units of
$0.17875 per preferred unit. The distributions are payable on
November 14, 2017, on all outstanding common and preferred units to
unitholders of record as of the close of business on November 3,
2017.
Forward-Looking Statements and Treasury Regulation
Notice
This release may include forward-looking statements. Statements
included in this release that are not historical facts are
forward-looking statements. Such forward-looking statements are
subject to various risks and uncertainties. These risks and
uncertainties include, among other things, uncertainties relating
to the Partnership's future cash flows and operations, the
Partnership's ability to pay future distributions, future market
conditions, current and future governmental regulation, future
taxation and other factors discussed in the Partnership's filings
with the Securities and Exchange Commission. If any of these risks
or uncertainties materializes, or should underlying assumptions
prove incorrect, actual results or outcomes may vary materially
from those expected. The Partnership undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b) (4) and (d). Brokers and nominees
should treat one hundred percent (100.0%) of BKEP's distributions
to foreign investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, BKEP's distributions to foreign investors are subject
to federal income tax withholding at the highest applicable
effective tax rate. Nominees, and not BKEP, are treated as
withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors.
About Blueknight Energy Partners, L.P.
BKEP owns and operates a diversified portfolio of complementary
midstream energy assets consisting of approximately 9.6 million
barrels of combined asphalt product and residual fuel oil storage
located at 54 terminals in 26 states, 7.0 million barrels of crude
oil storage located in Oklahoma and Texas, approximately 6.6
million barrels of which are located at the Cushing, Oklahoma,
Interchange, approximately 670 miles of crude oil pipeline located
primarily in Oklahoma and Texas and approximately 200 crude oil
transportation and oilfield services vehicles deployed in Kansas,
Oklahoma and Texas. BKEP provides integrated services for companies
engaged in the production, distribution and marketing of crude oil,
asphalt and other petroleum products. BKEP is headquartered in
Oklahoma City, Oklahoma. For more information, visit the
Partnership's web site at www.bkep.com.
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BKEPInvestor Relations, 918-237-4032investor@bkep.comorMedia
Contact:Brent Gooden, 405-715-3232 or 405-818-1900
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