Blueknight Declares Quarterly Distributions

Rhea-AI Summary

Blueknight Energy Partners, L.P. (Nasdaq: BKEP and BKEPP) has declared a quarterly cash distribution of $0.04 per common unit and $0.17875 per preferred unit for Q1 2021. Both distributions remain unchanged from Q4 2020 levels. Payment is set for May 14, 2021, with record date May 7, 2021. The Partnership emphasizes the potential risks affecting future cash flows and distributions, including market conditions and regulatory changes. Blueknight operates the largest independent asphalt terminalling network in the U.S., with substantial storage capacity across 53 terminals in 26 states.

Positive

• Quarterly cash distribution of $0.04 per common unit and $0.17875 per preferred unit maintained from Q4 2020.
• Operates the largest independent asphalt terminalling network in the U.S. with 8.7 million barrels of storage capacity.

Negative

• Potential risks to future distributions due to cash flow uncertainties and market conditions.

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 March 31, 2021. The first quarter 2021 distributions for both the common and preferred units remain unchanged from those paid for the fourth quarter 2020. The distributions are payable on May 14, 2021, on all outstanding common and preferred units to unitholders of record as of the close of business on May 7, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421006066/en/

FAQ

What is the cash distribution for Blueknight Energy Partners in Q1 2021?

Blueknight Energy Partners declared a cash distribution of $0.04 per common unit and $0.17875 per preferred unit for Q1 2021.

When will the distributions for Blueknight Energy Partners be paid?

The distributions will be paid on May 14, 2021, to unitholders of record as of May 7, 2021.

What are the risks associated with Blueknight Energy Partners' future cash flows?

Future cash flows and distributions may be affected by market conditions, regulatory changes, and uncertainties related to the Partnership's operations.

How many terminals does Blueknight Energy Partners operate?

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

What is the significance of the preferred unit distribution for Blueknight Energy Partners?

The preferred unit distribution of $0.17875 shows the Partnership's commitment to maintaining returns for preferred unitholders.