Blueknight Declares Quarterly Distributions

Rhea-AI Summary

Blueknight Energy Partners, L.P. (BKEP) announced a quarterly cash distribution of $0.04 per common unit and $0.17875 per preferred unit for Q3 2021, unchanged from Q2 2021. Distributions are payable on November 12, 2021, to unitholders of record by the close of business on November 5, 2021. The Partnership, a publicly traded master limited partnership, operates the largest independent asphalt terminalling network in the U.S., with 8.7 million barrels of storage across 53 terminals in 26 states.

Positive

• Consistent quarterly cash distribution of $0.04 per common unit and $0.17875 per preferred unit demonstrates financial stability.
• Largest independent asphalt terminalling network in the U.S. indicates strong market position and operational capacity.

Negative

• None.

TULSA, Okla., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP), announced today that the board of directors of its general partner has declared a quarterly cash distribution on the Partnership’s common units of $0.04 per common unit, as well as a cash distribution of $0.17875 per unit on the Partnership’s preferred units for the quarter ended September 30, 2021. The third quarter 2021 distributions for both the common and preferred units remain unchanged from those paid for the second quarter 2021. The distributions are payable on November 12, 2021, on all outstanding common and preferred units to unitholders of record as of the close of business on November 5, 2021.

Forward-Looking Statements and Treasury Regulation Notice

This release may include forward-looking statements. Statements included in this release that are not historical facts are forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. These risks and uncertainties include, among other things, uncertainties relating to the Partnership’s future cash flows and operations, the Partnership’s ability to pay future distributions, future market conditions, current and future governmental regulation, future taxation and other factors discussed in the Partnership’s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The Partnership undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b) (4) and (d). Brokers and nominees should treat one hundred percent (100.0%) of Blueknight’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Blueknight’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not Blueknight, are treated as withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

About Blueknight

Blueknight (Nasdaq: BKEP and BKEPP) is a publicly traded master limited partnership that owns the largest independent asphalt terminalling network in the country. Operations include 8.7 million barrels of liquid asphalt storage capacity across 53 terminals and 26 states throughout the U.S. Blueknight is focused on providing integrated terminalling solutions for tomorrow’s infrastructure and transportation end markets. More information is available at www.bkep.com.

FAQ

What is the cash distribution for BKEP in Q3 2021?

The cash distribution for BKEP in Q3 2021 is $0.04 per common unit and $0.17875 per preferred unit.

When will the BKEP cash distributions be paid?

BKEP cash distributions will be paid on November 12, 2021, to unitholders of record as of November 5, 2021.

How many terminals does Blueknight Energy operate?

Blueknight Energy operates 53 terminals across 26 states in the U.S.

What is the storage capacity of Blueknight Energy's asphalt network?

Blueknight Energy's asphalt network has a storage capacity of 8.7 million barrels.