TransMontaigne Partners L.P. Announces Increase in Quarterly Distribution
TransMontaigne Partners L.P. (NYSE:TLP) announced today that it declared
a distribution of $0.69 per unit for the period from April 1, 2016
through June 30, 2016, representing a $0.01 increase over the previous
quarter and the third consecutive quarter the distribution has been
increased. This distribution is payable on August 8, 2016 to unitholders
of record on July 29, 2016.
Fred Boutin, CEO of TransMontaigne Partners, commented, “The
distribution increases in each of our last three quarters are reflective
of the strength of our business, a balance sheet that is positioned for
future growth and a supportive general partner. Since the
acquisition of our general partner this past February by an affiliate of
ArcLight Capital Partners, we have increased our quarterly distribution
at an annualized rate of 6%.”
About TransMontaigne Partners L.P.
TransMontaigne Partners L.P. is a terminaling and transportation company
based in Denver, Colorado with operations in the United States along the
Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the
Mississippi and Ohio Rivers, and in the Southeast. We provide integrated
terminaling, storage, transportation and related services for customers
engaged in the distribution and marketing of light refined petroleum
products, heavy refined petroleum products, crude oil, chemicals,
fertilizers and other liquid products. Light refined products include
gasolines, diesel fuels, heating oil and jet fuels; heavy refined
products include residual fuel oils and asphalt. We do not purchase or
market products that we handle or transport. News and additional
information about TransMontaigne Partners L.P. is available on our
website: www.transmontaignepartners.com.
Forward-Looking Statements
This press release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor provision of
the Private Securities Litigation Reform Act of 1995. Although the
Partnership believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, such
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected. Important
factors that could cause actual results to differ materially from the
Partnership’s expectations and may adversely affect its business and
results of operations are disclosed in “Item 1A. Risk Factors” in the
Partnership’s Annual Report on Form 10-K for the year ended December 31,
2015, filed with the Securities and Exchange Commission on March 10,
2016. We do not assume any obligation to publicly release any revisions
to forward-looking statements to reflect events or changes in our
expectations after the date of this release.
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Copyright Business Wire 2016
Source: Business Wire
(July 18, 2016 - 8:22 AM EDT)
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