NGL Energy Partners LP Announces Cash Distributions
NGL Energy Partners LP (NYSE: NGL) has recently shared important news about its quarterly cash distributions for the preferred units. The Board of Directors of its general partner has officially declared these distributions for the quarter ending September 30. This includes the Class B Floating Rate Cumulative Redeemable Perpetual Preferred Units and the Class C Floating Rate Cumulative Redeemable Perpetual Preferred Units, as specified in the company’s partnership agreement.
Details on Class B and Class C Units Distribution
For holders of Class B Preferred Units, a quarterly distribution of $0.8004 per unit has been established. On the other hand, Class C Preferred Units will receive $0.7947 each. Both distributions are set to be paid out on October 15, with the record date for eligibility being October 1. This move reflects management's dedication to delivering value to its investors.
Distribution Announcement for Class D Preferred Units
Alongside the Class B and C distributions, the Board has approved a cash distribution for the Class D Preferred Units, amounting to an impressive $19,247,689.10. This distribution is also scheduled for payment on October 15, with the same record date of October 1. These distributions illustrate NGL's robust financial position and its commitment to returning value to shareholders.
Understanding Forward-Looking Statements
When talking about financial distributions and expectations, it's important to grasp the forward-looking statements tied to these announcements. These statements reflect the company’s expectations regarding future performance, but they come with inherent uncertainties. NGL Energy Partners LP approaches these projections with caution, as they rely on a variety of known and unknown risks.
Investing Wisely with NGL
If you’re an investor or considering becoming a shareholder, it’s crucial to proceed with caution. Despite the positive news on distributions, potential investors need to weigh the associated risks. The factors affecting actual performance can differ from those expected, which highlights the need for careful evaluation.
About NGL Energy Partners LP
NGL Energy Partners LP is a diversified midstream energy company based in Delaware. It specializes in essential logistics services for multiple products, including crude oil and natural gas liquids. The company also manages the transportation, treatment, and disposal of produced water resulting from oil and gas production.
Connecting with NGL Energy Partners LP
For anyone interested in learning more about the company and its operations, additional details can be found on the Partnership’s official website. This resource is valuable for shareholders and those keen on the midstream energy logistics sector.
Frequently Asked Questions
What are the announced distributions for Class B and Class C units?
The Class B Preferred Units will receive $0.8004, while the Class C Preferred Units will receive $0.7947 per unit for the quarter ending September 30.
When will the distributions be paid?
The distributions for Class B and C units are scheduled for payment on October 15.
What is the total distribution amount for Class D units?
The total distribution amount for Class D Preferred Units will be $19,247,689.10 for the quarter ending September 30.
What does NGL Energy Partners LP do?
NGL Energy Partners LP is a diversified midstream energy company specializing in the transportation, storage, and marketing of crude oil and natural gas liquids.
Why are forward-looking statements important?
Forward-looking statements set expectations about future performance, but they carry risks and uncertainties that may affect actual results.
