Blueknight Declares Quarterly Distributions and Announces Timing of First Quarter 2022 Results

Rhea-AI Summary

Blueknight Energy Partners, L.P. (Nasdaq: BKEP, BKEPP) declared a quarterly cash distribution of $0.0425 per common unit and $0.17875 per preferred unit for Q1 2022, consistent with Q4 2021 distributions. Payments will be made on May 13, 2022, to unitholders on record by May 6, 2022. The company plans to release its financial results for the first quarter on May 4, 2022, and will file its Quarterly Report on Form 10-Q with the SEC on May 5, 2022.

Positive

• Consistent quarterly cash distributions indicate stable cash flow.
• Announced distributions are unchanged compared to the previous quarter, reflecting operational stability.

Negative

• None.

TULSA, Okla., April 26, 2022 (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 of $0.0425 per common unit, as well as a cash distribution of $0.17875 per preferred unit for the quarter ended March 31, 2022. The first quarter 2022 distributions for both the common and preferred units remain unchanged from those paid for the fourth quarter 2021. The distributions are payable on May 13, 2022, on all outstanding common and preferred units to unitholders of record as of the close of business on May 6, 2022.

Additionally, Blueknight plans to release first quarter 2022 financial results after market close on May 4, 2022. Supplemental information regarding the Partnership’s results of operations will be provided in Blueknight’s Quarterly Report on Form 10-Q for the period ended March 31, 2022, to be filed with the Securities and Exchange Commission on May 5, 2022.

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 9.0 million barrels of liquid asphalt storage capacity across 54 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 and BKEPP for Q1 2022?

The cash distribution is $0.0425 per common unit and $0.17875 per preferred unit.

When will Blueknight Energy release its Q1 2022 financial results?

Blueknight Energy plans to release its Q1 2022 financial results on May 4, 2022.

What is the record date for the cash distribution of Blueknight Energy?

The record date for the cash distribution is May 6, 2022.

When will the cash distributions be paid to unitholders of BKEP and BKEPP?

The distributions will be paid on May 13, 2022.

What does consistent cash distribution indicate about Blueknight Energy?

Consistent cash distribution indicates stable cash flow and operational stability.