Global Partners Declares Increased Cash Distribution for the Third Quarter of 2015
Partners LP (NYSE: GLP) announced today that the Board of Directors
of its general partner, Global GP LLC, has declared a quarterly cash
distribution of $0.6975 per unit ($2.79 per unit on an annualized basis)
on all of its outstanding common units for the period from July 1
through September 30, 2015. The distribution will be paid November 13,
2015 to unitholders of record as of the close of business on November 4,
The distribution to be paid in November 2015 represents an increase of
0.7% over the quarterly distribution of $0.6925 per unit paid in August
2015 and an increase of 6.9% over the quarterly distribution of $0.6525
per unit paid in November 2014.
About Global Partners LP
A publicly traded
master limited partnership, Global is a midstream logistics and
marketing company that owns, controls or has access to one of the
largest terminal networks of petroleum products and renewable fuels in
the Northeast. Global also is one of the largest distributors of
gasoline, distillates, residual oil and renewable fuels to wholesalers,
retailers and commercial customers in New England and New York. The
Partnership is a leader in the transportation of crude oil and other
products by rail across its “virtual pipeline” from the mid-continental
U.S. and Canada to the East and West Coasts for distribution to refiners
and others. With approximately 1,600 locations, primarily in the
Northeast, Global also is one of the largest independent owners,
suppliers and operators of gasoline stations and convenience stores.
Global is No. 180 in the Fortune 500 list of America’s largest
corporations. For additional information, visit www.globalp.com.
This news release may contain
forward-looking statements. Forward-looking statements include, without
limitation, any statement that may project, indicate or imply future
results, events, performance or achievements, and may contain the words
“may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,”
“intend,” “estimate,” “will likely result,” or other similar
expressions. In addition, any statement made by Global Partners LP’s
management concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business strategies or
prospects and possible actions by Global Partners LP or its subsidiaries
are also forward-looking statements.
Although Global Partners LP believes these forward-looking statements
are reasonable as and when made, there may be events in the future that
Global Partners LP is not able to predict accurately or control, and
there can be no assurance that future developments affecting Global
Partners LP’s business will be those that it anticipates.
For additional information about risks and uncertainties that could
cause actual results to differ materially from the expectations Global
Partners LP describes in its forward-looking statements, please refer to
Global Partners LP’s Annual Report on Form 10-K and subsequent filings
the Partnership makes with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date on which they are made.
Global Partners LP expressly disclaims any obligation or undertaking to
update forward-looking statements to reflect any change in its
expectations or beliefs or any change in events, conditions or
circumstances on which any forward-looking statement is based.
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Copyright Business Wire 2015
Source: Business Wire
(October 21, 2015 - 8:30 AM EDT)
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