NGL Energy Partners LP (NYSE: NGL) announced today that the Board of
Directors of its general partner declared a quarterly distribution of
$0.640 per unit ($2.56 on an annualized basis) for the quarter ended
September 30, 2015.
This distribution represents a 5.1% increase over the distribution paid
for the same quarter a year ago. This distribution is payable on
November 13, 2015 to unitholders of record entitled to receive the
distribution at the close of business on November 3, 2015. This is the
sixteenth consecutive quarter NGL has increased its cash distribution
since its public offering in May 2011.
NGL reaffirms its distribution increase guidance of 6%-8% in calendar
2015 and 2016.
This press release includes “forward-looking statements.” All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements. Actual
results could vary significantly from those expressed or implied in such
statements and are subject to a number of risks and uncertainties. While
NGL believes its expectations as reflected in the forward-looking
statements are reasonable, NGL can give no assurance that such
expectations will prove to be correct. The forward-looking statements
involve risks and uncertainties that affect operations, financial
performance, and other factors as discussed in filings with the
Securities and Exchange Commission. Other factors that could impact any
forward-looking statements are those risks described in NGL’s annual
report on Form 10-K, quarterly reports on Form 10-Q, and other public
filings. You are urged to carefully review and consider the cautionary
statements and other disclosures made in those filings, specifically
those under the heading “Risk Factors”. NGL undertakes no obligation to
publicly update or revise any forward-looking statements except as
required by law.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and
operates a vertically integrated energy business with five primary
businesses: water solutions, crude oil logistics, NGL logistics, refined
products/renewables and retail propane. For further information visit
the Partnership's website at www.nglenergypartners.com.
This release is a qualified notice under Treasury Regulation Section
1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy
Partner LP’s distributions to foreign investors as being attributable to
income that is effectively connected with a United States trade or
business. Therefore, distributions to foreign investors are
subject to federal income tax withholding at the highest applicable
effective tax rate.
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Copyright Business Wire 2015
Source: Business Wire
(October 22, 2015 - 3:54 PM EDT)
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