SunCoke Energy Partners, L.P. Board of Directors Declares Distribution of $0.5940 Per Unit
Today, the SunCoke Energy Partners, L.P. (NYSE: SXCP) Board of
Directors declared a fourth quarter 2015 cash distribution of $0.5940
per limited partnership unit, or $2.38 annualized. The fourth quarter
2015 distribution will be payable on March 1, 2016, to unitholders of
record on February 15, 2016.
The board’s decision to hold quarterly unitholder distributions at
$0.5940 per unit is part of its revised capital allocation strategy to
shift excess distributable cash flow towards paying down SXCP’s debt and
strengthening its balance sheet. SXCP plans to evaluate its capital
allocation and distribution priorities on a quarterly basis.
We plan to participate in the following investor conferences:
Barclays Select Series 2016: MLP Corporate Access Day on March 1,
2016, in New York, NY
Morgan Stanley's MLP/Diversified Natural Gas Conference on March 2,
2016, in New York, NY
ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy Partners, L.P. (NYSE: SXCP) is a publicly traded master
limited partnership that manufactures high-quality coke used in the
blast furnace production of steel and provides export and domestic coal
handling services to the coke, coal, steel and power industries. In our
cokemaking business, we utilize an innovative heat-recovery technology
that captures excess heat for steam or electrical power generation and
have long-term, take-or-pay coke contracts that pass through commodity
and certain operating costs. Our coal handling terminals have the
collective capacity to blend and transload more than 45 million tons of
coal each year and are strategically located to reach Gulf Coast, East
Coast, Great Lakes and international ports. SXCP’s General Partner is a
wholly owned subsidiary of SunCoke Energy, Inc. (NYSE: SXC), which has
more than 50 years of cokemaking experience serving the integrated steel
industry. To learn more about SunCoke Energy Partners, L.P., visit our
website at www.suncoke.com.
This statement is intended to serve as qualified notice to nominees as
provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d)
given by a publicly traded partnership for the nominee to be treated as
a withholding agent. Please note that SunCoke Energy Partners, L.P.'s
quarterly cash distributions are treated as partnership distributions
for federal income tax purposes and that 100 percent of these
distributions to foreign investors are attributable to income that is
effectively connected with a United States trade or business.
Accordingly, all of SunCoke Energy Partners, L.P.'s distributions to a
nominee on behalf of foreign investors are subject to federal income tax
withholding at the highest marginal tax rate for individuals or
corporations, as applicable. Nominees, and not SunCoke Energy Partners,
L.P., are treated as the withholding agents responsible for withholding
on the distributions received by them on behalf of foreign investors.
Some of the statements included in this press release constitute
“forward-looking statements.” Forward-looking statements include all
statements that are not historical facts and may be identified by the
use of such words as “believe,” “expect,” “plan,” “project,” “intend,”
“anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,”
“will,” “should” or the negative of these terms or similar expressions.
Forward-looking statements are inherently uncertain and involve
significant known and unknown risks and uncertainties (many of which are
beyond the control of SXCP) that could cause actual results to differ
Such risks and uncertainties include, but are not limited to, domestic
and international economic, political, business, operational,
competitive, regulatory, and/or market factors affecting SXCP, as well
as uncertainties related to: pending or future litigation, legislation
or regulatory actions; liability for remedial actions or assessments
under existing or future environmental regulations; gains and losses
related to acquisition, disposition or impairment of assets;
recapitalizations; access to, and costs of, capital; the effects of
changes in accounting rules applicable to SXCP; and changes in tax,
environmental and other laws and regulations applicable to SXCP’s
Forward-looking statements are not guarantees of future performance, but
are based upon the current knowledge, beliefs and expectations of SXCP
management, and upon assumptions by SXCP concerning future conditions,
any or all of which ultimately may prove to be inaccurate. The reader
should not place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. SXCP does not
intend, and expressly disclaims any obligation, to update or alter its
forward-looking statements (or associated cautionary language), whether
as a result of new information, future events or otherwise after the
date of this press release except as required by applicable law.
SXCP has included in its filings with the Securities and Exchange
Commission cautionary language identifying important factors (but not
necessarily all the important factors) that could cause actual results
to differ materially from those expressed in any forward-looking
statement made by SXCP. For information concerning these factors, see
SXCP’s Securities and Exchange Commission filings such as its annual and
quarterly reports and current reports on Form 8-K, copies of which are
available free of charge on SXCP’s website at www.suncoke.com.
All forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary statements.
Unpredictable or unknown factors not discussed in this release also
could have material adverse effects on forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125006553/en/
Copyright Business Wire 2016