Altera Infrastructure Declares Distributions on Series A, B and E Preferred Units

Rhea-AI Summary

Altera Infrastructure GP LLC has declared cash distributions for its preferred units for the period from May 15, 2020, to August 14, 2020. Series A, B, and E preferred units will receive distributions of $0.4531, $0.5313, and $0.5547 per unit, respectively. The record date for these distributions is August 10, 2020, with payments scheduled for August 17, 2020. Altera Infrastructure operates significant offshore energy assets, valued at approximately $4.8 billion, under stable contracts. The preferred units trade on the NYSE under the symbols ALIN PR A, ALIN PR B, and ALIN PR E.

Positive

• Cash distributions declared for Series A, B, and E preferred units.
• Distributions per unit are $0.4531, $0.5313, and $0.5547, respectively.
• Altera Infrastructure has consolidated assets of approximately $4.8 billion.

Negative

• None.

PEMBROKE, Bermuda, July 30, 2020 (GLOBE NEWSWIRE) -- Altera Infrastructure GP LLC, the general partner of Altera Infrastructure L.P. (Altera Infrastructure or the Partnership), has declared the following distributions:

Units	Distribution Period	Amount (Per Unit)	Record Date	Payment Date
Series A Preferred Units	May 15, 2020 to August 14, 2020	$0.4531	August 10, 2020	August 17, 2020
Series B Preferred Units	May 15, 2020 to August 14, 2020	$0.5313	August 10, 2020	August 17, 2020
Series E Preferred Units	May 15, 2020 to August 14, 2020	$0.5547	August 10, 2020	August 17, 2020

Altera Infrastructure’s cash distributions are reported on Form 1099 for United States tax purposes.

About Altera Infrastructure

Altera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.

Altera Infrastructure has consolidated assets of approximately $4.8 billion, comprised of 54 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers (including four new builds), floating storage and offtake (FSO) units, long-distance towing and offshore installation vessels and a unit for maintenance and safety (UMS). The majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts. Affiliates of global asset manager Brookfield Business Partners L.P. (NYSE: BBU) (TSX: BBU.UN) own 100 percent of Altera Infrastructure’s general partner.

Altera Infrastructure’s preferred units trade on the New York Stock Exchange under the symbols “ALIN PR A”, “ALIN PR B” and “ALIN PR E”, respectively.

For Investor Relations enquires contact: Jan Rune Steinsland, Chief Financial Officer Tel:  +47 97 05 25 33 E-mail:  investor.relations@alterainfra.com

For Media enquires contact: Axel Wiedenmann, Director Communications Tel:  +47 95 16 30 22 E-mail:  media@alterainfra.com

FAQ

What are the distribution amounts for Altera Infrastructure's preferred units?

Altera Infrastructure has declared distributions of $0.4531 for Series A, $0.5313 for Series B, and $0.5547 for Series E preferred units.

When is the payment date for Altera Infrastructure's preferred unit distributions?

The payment date for the declared distributions is August 17, 2020.

What is the record date for the preferred unit distributions of Altera Infrastructure?

The record date for the preferred unit distributions is August 10, 2020.

How much are the preferred units of Altera Infrastructure trading for?

The preferred units of Altera Infrastructure trade under the symbols ALIN PR A, ALIN PR B, and ALIN PR E.