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Alliance Resource Partners, L.P. Increases Quarterly Distribution to $0.40 Per Unit
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Alliance Resource Partners, L.P. (NASDAQ: ARLP) announced a significant cash distribution increase for the 2022 Quarter, now set at $0.40 per unit, reflecting a 300.0% rise from $0.10 in Q2 2021 and a 14.3% increase over $0.35 in Q1 2022. The distribution will be paid on August 12, 2022, to unitholders of record by August 5, 2022. ARLP is set to report its financial results on August 1, 2022, with a conference call scheduled for 10:00 a.m. Eastern.
Positive
Increased cash distribution of $0.40 per unit for Q2 2022, a 300.0% increase year-over-year.
14.3% increase from Q1 2022 distribution of $0.35 per unit.
Demonstrated strong financial performance and commitment to unitholder returns.
Negative
None.
TULSA, Okla.--(BUSINESS WIRE)--
Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that the Board of Directors of ARLP’s general partner approved an increased cash distribution to its unitholders for the quarter ended June 30, 2022 (the "2022 Quarter").
ARLP unitholders will receive a cash distribution for the 2022 Quarter of $0.40 per unit (an annualized rate of $1.60 per unit), payable on August 12, 2022 to all unitholders of record as of the close of trading on August 5, 2022. The announced distribution represents a 300.0% increase over the cash distribution of $0.10 per unit for the quarter ended June 30, 2021 and a 14.3 % increase over the cash distribution of $0.35 per unit for the quarter ended March 31, 2022.
As previously announced, ARLP will report financial results for the 2022 Quarter before the market opens on Monday, August 1, 2022 and Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.
To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “investor information” section of ARLP’s website at http://www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13731312.
This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions to foreign investors attributable to gross income, gain or loss that is effectively connected with a United States trade or business. Accordingly, ARLP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable tax rate.
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast-growing energy and infrastructure transition.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission ("SEC"), are available at http://www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7674 or via e-mail at investorrelations@arlp.com.
