CrossAmerica Partners LP Maintains Quarterly Distribution

Rhea-AI Summary

CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the fourth quarter of 2021.

This equates to an annualized rate of $2.10 per unit and will be payable on February 10, 2022, to unitholders of record as of February 3, 2022.

A conference call is scheduled for March 1, 2022, at 9:00 a.m. ET to discuss the fourth quarter and year-end earnings results, which will be released on February 28, 2022.

Positive

• Quarterly distribution of $0.5250 per unit shows consistent income return.
• Annualized distribution rate of $2.10 per unit is attractive for investors.

Negative

• None.

•Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2021

Allentown, Jan. 20, 2022 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Maintains Quarterly Distribution

Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2021

ALLENTOWN, PA (January 20, 2022) – 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 fourth quarter of 2021 (annualized $2.10 per unit). The distribution attributable to the fourth quarter is payable on February 10, 2022 to all unitholders of record on February 3, 2022.

CrossAmerica will host a conference call on March 1^st at 9:00 a.m. Eastern Time to discuss fourth quarter/year-end 2021 earnings results, which will be released after the market closes on Monday, February 28.

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 1,800 locations and owns or leases approximately 1,200 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, 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(b). 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 210-742-8316

FAQ

What is the quarterly distribution amount announced by CrossAmerica Partners for Q4 2021?

The quarterly distribution amount is $0.5250 per unit.

When will the distribution for the fourth quarter of 2021 be paid?

The distribution will be paid on February 10, 2022.

What is the annualized distribution rate for CrossAmerica Partners?

The annualized distribution rate is $2.10 per unit.

When will CrossAmerica Partners release its Q4 earnings results?

The Q4 earnings results will be released on February 28, 2022.

What date is the conference call to discuss Q4 earnings?

The conference call is scheduled for March 1, 2022, at 9:00 a.m. ET.