Genesis Energy Initiates Quarterly Cash Distribution for 2025
Genesis Energy, L.P. Announces Cash Distribution for Unit Holders
Genesis Energy, L.P. (NYSE: GEL) has made a significant announcement regarding its quarterly cash distributions to its common unit holders and Class A Convertible Preferred unit holders. This distribution reflects the company's ongoing commitment to providing value to its shareholders. Each holder of common units will receive a cash distribution of $0.165, equivalent to $0.66 on an annualized basis, for each common unit they hold of record. Additionally, preferred unit holders will be entitled to a distribution of $0.9473, which amounts to roughly $3.7890 annually for each unit held.
Key Dates for Distribution
These distributions are set to be paid on a specific date that shareholders should mark on their calendars. Holders of record as of the close of business on a designated January date will receive their distributions on a February date in 2025. This systematic approach not only ensures transparency but also reaffirms Genesis Energy's dedication to its investors.
Upcoming Earnings Announcement
In addition to the distribution news, Genesis Energy plans to announce its earnings for the fourth quarter of 2024 very soon. This announcement will take place just before the opening of the New York Stock Exchange on a February morning in 2025. Following the earnings release, analysts and investors will be invited to join a conference call, hosted by the company at 9:00 a.m. CDT. This call is an opportunity for stakeholders to dig deeper into the financial performance and strategic outlook of Genesis Energy.
Conference Call Details
This valuable conference call will be available via webcast on the company’s website. Participants can access the call through the Investors section, providing a convenient platform for all interested parties to engage with the company’s leadership.
About Genesis Energy, L.P.
Genesis Energy, L.P. stands as a diversified player in the midstream energy sector. With its headquarters based in Houston, this master limited partnership boasts a range of operations including offshore pipeline transportation, sodium minerals, and sulfur services. Additionally, the company manages onshore facilities and marine transportation, positioning it firmly within the Gulf Coast region of the United States, as well as Wyoming and the Gulf of Mexico.
Understanding Distribution and Tax Implications
It is crucial to understand the implications of these distributions, especially for foreign investors. According to Treasury regulations, 100 percent of the distributions by Genesis Energy to foreign entities are classified as income derived from a United States trade or business. Therefore, these distributions are subject to federal income tax withholding at the applicable effective tax rate. This ensures compliance with regulations and reinforces the importance of being informed as an investor.
Frequently Asked Questions
What is the cash distribution amount for common units?
The cash distribution for common units is $0.165 per unit, or $0.66 annually.
When will the distributions be paid?
The distributions are scheduled to be paid on February 14, 2025, to holders of record as of January 31, 2025.
How can I listen to the earnings call?
You can listen to the earnings call via a live webcast on Genesis Energy's website in the Investors section.
What are the primary operations of Genesis Energy?
Genesis Energy operates in offshore pipeline transportation, sodium minerals, sulfur services, onshore facilities, and marine transportation.
What is the tax status for foreign investors?
Distributions to foreign investors are subject to federal income tax withholding, reflecting U.S. trade and business connections.
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