CrossAmerica Partners LP Maintains Quarterly Distribution

Rhea-AI Summary

CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the first quarter of 2023, amounting to an annualized distribution of $2.10 per unit. This distribution will be paid on May 10, 2023, to unitholders of record as of May 3, 2023. The company, which is a significant distributor of motor fuels and convenience store operator in 34 states, ranks among ExxonMobil's largest distributors in the U.S. by fuel volume. A conference call will be held on May 9 at 9:00 a.m. ET to discuss the first quarter earnings, with results released after market close on May 8.

Positive

• Quarterly distribution maintained at $0.5250 per unit, indicating stable cash flow.
• Annualized distribution of $2.10 per unit showcases ongoing profitability.
• Strong position as a leading distributor in the U.S. fuel market with wide reach (34 states).

Negative

• None.

CrossAmerica Partners LP Maintains Quarterly Distribution

Allentown, PA, April 20, 2023 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Maintains Quarterly Distribution

• Quarterly distribution of $0.5250 per unit attributable to the first quarter of 2023
  
  

ALLENTOWN, PA (April 20, 2023) – CrossAmerica Partners LP (NYSE: CAPL) announced today that the Board of Directors of its general partner has approved a quarterly distribution of $0.5250 per unit attributable to the first quarter of 2023 (annualized $2.10 per unit). The distribution attributable to the first quarter is payable on May 10, 2023 to all unitholders of record on May 3, 2023.

CrossAmerica will host a conference call on May 9^th at 9:00 a.m. Eastern Time to discuss first quarter 2023 earnings results, which will be released after the market closes on Monday, May 8.

About CrossAmerica Partners LP

CrossAmerica Partners is a leading wholesale distributor of motor fuels, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners and a member of the board of the general partner since 2012. Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,700 locations and owns or leases approximately 1,150 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon and Phillips 66. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com.

Forward Looking Statement

Statements contained in this release that state the Partnership’s or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "estimates," "target," "plan" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica's Forms 10-Q or Form 10-K filed with the Securities and Exchange Commission and available on CrossAmerica's website at www.crossamericapartners.com. The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4. Brokers and nominees should treat one hundred percent (100%) of CrossAmerica Partners LP’s distributions to non-U.S. investors as attributable to income that is effectively connected with a United States trade or business. Accordingly, CrossAmerica Partners LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contact – Randy Palmer, rpalmer@caplp.com or 610-625-8000

FAQ

What is the quarterly distribution amount for CrossAmerica Partners LP in Q1 2023?

CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for the first quarter of 2023.

When will CrossAmerica Partners LP pay its distribution for Q1 2023?

The distribution for Q1 2023 will be payable on May 10, 2023.

What is the annualized distribution for CrossAmerica Partners LP in 2023?

The annualized distribution for CrossAmerica Partners LP in 2023 is $2.10 per unit.

What are the key details of the conference call by CrossAmerica Partners LP?

The conference call will take place on May 9, 2023, at 9:00 a.m. ET to discuss first quarter earnings.

How many states does CrossAmerica Partners LP operate in?

CrossAmerica Partners LP operates in 34 states across the U.S.