NGL Energy Partners LP Declares Quarterly Cash Distribution
NGL Energy Partners LP (NYSE: NGL), a renowned midstream energy organization, proudly announces that its Board of Directors has declared the quarterly cash distributions for Class B, Class C, and Class D Preferred Units. This decision reflects the company’s ongoing commitment to providing value to its shareholders.
Distribution Details for Preferred Units
For the quarter ending December 31, 2024, NGL has specified that holders of the Class B Floating Rate Cumulative Redeemable Perpetual Preferred Units will receive a distribution of $0.7542 per unit. In parallel, the Class C Preferred Units will yield a distribution of $0.7486 each. Both distributions are scheduled for payment on January 15, 2025, to those on record as of January 1, 2025.
Class D Preferred Units Cash Distribution
Additionally, another significant aspect of this declaration includes a cash distribution amounting to $18,095,455.60 for the Class D Preferred Units. Similar to the Class B and C distributions, this allocation is also set for January 15, 2025, aimed at stakeholders who are recorded by January 1, 2025.
Commitment to Shareholders
NGL Energy Partners LP's emphasis on timely distributions highlights its dedication to shareholder satisfaction and confidence in the company’s financial strategy. By adhering to the terms specified in the company’s partnership agreement, NGL ensures that all preferred unit holders are adequately compensated.
The Nature of Forward-Looking Statements
It is essential for stakeholders to understand that this announcement may include forward-looking statements, representing NGL’s expectations for the future. While the company believes these expectations are sensible, they are inherently subject to various risks and uncertainties that could lead to actual results differing substantially from what is stated. Investors are encouraged to consider these factors when evaluating the company’s announcements.
Overview of NGL Energy Partners LP
NGL Energy Partners LP operates as a diversified midstream energy firm. The company specializes in transporting, storing, and marketing crude oil and natural gas liquids. Additionally, NGL provides essential logistics services and manages the treatment and disposal of produced water related to the oil and natural gas production process. This rigorous operational framework underlines NGL's integral role in the energy sector.
Further Information and Communication
To enhance accessibility and communication with stakeholders, NGL Energy Partners LP maintains a comprehensive online presence. This includes extensive information about its operations, partnerships, and available services. For those interested, additional details are accessible via the company’s website, ensuring that all stakeholders are informed about NGL’s initiatives.
Frequently Asked Questions
What are the preferred units being distributed by NGL Energy Partners LP?
NGL Energy Partners LP is distributing cash for Class B, Class C, and Class D Preferred Units.
When will the distributions be made?
The distributions are scheduled for January 15, 2025, for holders recorded as of January 1, 2025.
What is the amount of the Class D Preferred Unit distribution?
The Class D Preferred Units will receive a distribution of $18,095,455.60 for the quarter ending December 31, 2024.
How does NGL Energy Partners LP ensure shareholder value?
Through timely distributions and transparent communication, NGL Energy Partners LP aims to reassure shareholders of its financial health and strategic direction.
Where can I find more information about NGL Energy Partners LP?
For further information, stakeholders are encouraged to visit the company’s official website.
