Genesis Energy, L.P. Increases Quarterly Distribution
Genesis Energy, L.P. (GEL) announced today that it will pay a regular quarterly distribution of $0.625 per Common Unit for the quarter ended June 30, 2015. The distribution will be paid on August 14, 2015, to Common Unitholders of record at the close of business on July 31, 2015. This distribution represents an increase of approximately 10.6% over the second quarter 2014 quarterly distribution of $0.565 per unit, and an approximate 2.5% increase over the distribution paid with respect to the first quarter of 2015. This is the fortieth consecutive quarter in which Genesis has increased its quarterly distribution. During this period, thirty-five of those quarterly increases have been 10% or greater year-over-year.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include onshore and offshore pipeline transportation, refinery services, marine transportation and supply and logistics. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.