CrossAmerica Partners LP Maintains Quarterly Distribution
- None.
- None.
Insights
The announcement by CrossAmerica Partners LP to maintain its quarterly distribution at $0.5250 per unit is a significant indicator for investors and market analysts. This decision reflects the company's current cash flow stability and its ability to return value to its unitholders. The distribution rate, when annualized to $2.10 per unit, offers a yield that can be compared against industry benchmarks and the current interest rate environment to assess attractiveness to income-focused investors.
Moreover, maintaining the distribution at this level suggests that the company's financial performance is consistent with management's expectations. Analysts would typically dissect the company's cash flow statements and earnings reports to verify if the distribution is supported by the underlying financials or if it's a strategic move to sustain investor interest. The payout ratio, which is the proportion of earnings paid out as dividends, is a critical metric in this analysis.
From a market research perspective, the consistency in CrossAmerica's quarterly distribution is a positive signal to the market, indicating operational stability and a potentially defensive investment during volatile market conditions. It is essential to evaluate how the market has historically reacted to such announcements from CrossAmerica and similar firms in the sector. This historical analysis can provide insights into expected investor behavior and stock price movements following the distribution confirmation.
Additionally, the timing of the distribution, closely followed by the earnings call, might influence investor sentiment. The market will likely anticipate the earnings call for a more comprehensive understanding of the company's financial health, including revenue growth, expense management and strategic initiatives that could impact future distributions.
Allentown, PA, Jan. 22, 2024 (GLOBE NEWSWIRE) -- 
CrossAmerica Partners LP Maintains Quarterly Distribution
- Quarterly distribution of
$0.52 50 per unit attributable to the fourth quarter of 2023
ALLENTOWN, PA (January 22, 2024) – CrossAmerica Partners LP (NYSE: CAPL) announced today that the Board of Directors of its general partner has approved a quarterly distribution of
CrossAmerica will host a conference call on February 27th at 9:00 a.m. Eastern Time to discuss fourth quarter and full year 2023 earnings results, which will be released after the market closes on Monday, February 26.
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 1,100 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 (
Contact – Randy Palmer, rpalmer@caplp.com or 610-625-8000
FAQ
What is the quarterly distribution for CrossAmerica Partners LP (CAPL) for the fourth quarter of 2023?
When will the distribution be payable to unitholders of CrossAmerica Partners LP (CAPL)?
When will CrossAmerica Partners LP (CAPL) host a conference call to discuss its fourth quarter and full year 2023 earnings results?
