USD Partners Announces Tenth Consecutive Quarterly Distribution Increase to $0.345 per Unit & Third Quarter Earnings Release ...
October 26 2017 - 4:20PM
Business Wire
USD Partners LP (NYSE: USDP) (the “Partnership”) announced today
that the Board of Directors of its general partner declared a
quarterly cash distribution of $0.345 per unit for the third
quarter of 2017 ($1.38 per unit on an annualized basis),
representing an increase of $0.005 per unit or 1.5% over the prior
quarter and 7.0% over the third quarter of 2016. The distribution
is payable on November 13, 2017, to unitholders of record at the
close of business on November 6, 2017.
Third Quarter 2017 Earnings Release Date and Conference Call
Information
The Partnership plans to report third quarter 2017 financial and
operating results after market close on Tuesday, November 7, 2017.
The Partnership will host a conference call and webcast regarding
third quarter 2017 results at 10:00 a.m. Eastern Time (9:00 a.m.
Central Time) on Wednesday, November 8, 2017.
To listen live over the Internet, participants are advised to
log on to the Partnership’s website at www.usdpartners.com and
select the “Events & Presentations” sub-tab under the
“Investors” tab. To join via telephone, participants may dial (877)
266-7551 domestically or +1 (339) 368-5209 internationally,
conference ID 7897869. Participants are advised to dial in at least
five minutes prior to the call.
An audio replay of the conference call will be available for
thirty days by dialing (800) 585-8367 domestically or +1 (404)
537-3406 internationally, conference ID 7897869. In addition, a
replay of the audio webcast will be available by accessing the
Partnership's website after the call is concluded.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited
partnership formed in 2014 by US Development Group, LLC (“USDG”) to
acquire, develop and operate midstream infrastructure and
complementary logistics solutions for crude oil, biofuels and other
energy-related products. The Partnership generates substantially
all of its operating cash flows from multi-year, take-or-pay
contracts with primarily investment grade customers, including
major integrated oil companies and refiners. The Partnership’s
principal assets include a network of crude oil terminals that
facilitate the transportation of heavy crude oil from Western
Canada to key demand centers across North America. The
Partnership’s operations include railcar loading and unloading,
storage and blending in on-site tanks, inbound and outbound
pipeline connectivity, truck transloading, as well as other related
logistics services. In addition, the Partnership provides customers
with leased railcars and fleet services to facilitate the
transportation of liquid hydrocarbons and biofuels by rail.
USDG, which owns the general partner of USD Partners LP, is
engaged in designing, developing, owning, and managing large-scale
multi-modal logistics centers and energy-related infrastructure
across North America. USDG solutions create flexible market access
for customers in significant growth areas and key demand centers,
including Western Canada, the U.S. Gulf Coast and Mexico. Among
other projects, USDG is currently pursuing the development of a
premier energy logistics terminal on the Houston Ship Channel with
substantial tank storage capacity, multiple docks (including barge
and deepwater), inbound and outbound pipeline connectivity, as well
as a rail terminal with unit train capabilities. For additional
information, please visit texasdeepwater.com.
Qualified Notice to Nominees
This release serves as qualified notice to nominees as provided
for under Treasury Regulation Section 1.1446-4(b)(4) and (d).
Please note that we believe that 100 percent of the Partnership’s
distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of the Partnership’s distributions to foreign
investors are subject to federal income tax withholding at the
highest effective tax rate for individuals or corporations, as
applicable. Nominees, and not the Partnership, are treated as
withholding agents responsible for withholding distributions
received by them on behalf of foreign investors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws, including statements
with respect to the amount and timing of the Partnership’s third
quarter 2017 cash distribution. Words and phrases such as “is
expected,” “is planned,” “believes,” “projects,” and similar
expressions are used to identify such forward-looking statements.
However, the absence of these words does not mean that a statement
is not forward-looking. Forward-looking statements relating to the
Partnership are based on management’s expectations, estimates and
projections about the Partnership, its interests and the energy
industry in general on the date this press release was issued.
These statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are
difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecast in such
forward-looking statements. Factors that could cause actual results
or events to differ materially from those described in the
forward-looking statements include those as set forth under the
heading “Risk Factors” in the Partnership’s most recent Annual
Report on Form 10-K and in our subsequent filings with the
Securities and Exchange Commission. The Partnership is under no
obligation (and expressly disclaims any such obligation) to update
or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171026006374/en/
USD Partners LPAdam Altsuler, (281) 291-3995Vice President and
Chief Financial OfficerorAshley Means Zavala, (281)
291-3965Director, Finance & Investor Relations
USD Partners (NYSE:USDP)
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