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 Q2 2021, consistent with the previous quarter. These distributions are payable on August 13, 2021, to unitholders of record by August 6, 2021. The Partnership operates the largest asphalt terminalling network in the U.S., with 8.7 million barrels of liquid asphalt storage across 53 terminals in 26 states.

Positive

• Consistent quarterly distribution of $0.04 per common unit, indicating stable income for investors.
• Strong operational capacity with 8.7 million barrels of asphalt storage across 53 terminals.

Negative

• None.

TULSA, Okla., July 27, 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 June 30, 2021. The second quarter 2021 distributions for both the common and preferred units remain unchanged from those paid for the first quarter 2021. The distributions are payable on August 13, 2021, on all outstanding common and preferred units to unitholders of record as of the close of business on August 6, 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 quarterly cash distribution declared by Blueknight Energy Partners (BKEP) for Q2 2021?

Blueknight Energy Partners (BKEP) declared a cash distribution of $0.04 per common unit and $0.17875 per preferred unit for Q2 2021.

When will the cash distributions for Blueknight Energy Partners be paid?

The cash distributions will be payable on August 13, 2021, to unitholders of record as of August 6, 2021.

How many terminals does Blueknight Energy Partners operate?

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

What is the liquid asphalt storage capacity of Blueknight Energy Partners?

Blueknight Energy Partners has a total liquid asphalt storage capacity of 8.7 million barrels.