CrossAmerica Partners LP Maintains Quarterly Distribution

Rhea-AI Summary

CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the second quarter of 2020, amounting to an annualized rate of $2.10 per unit. This distribution will be paid on August 11, 2020 to unitholders of record as of August 4, 2020. The company is scheduled to host a conference call on August 7 to discuss its second quarter earnings results, which will be released on August 6.

CrossAmerica Partners is a major wholesale distributor of motor fuels in the U.S., operating approximately 1,700 locations across 34 states.

Positive

• Quarterly distribution maintained at $0.5250 per unit, stable income for shareholders.
• Strong market presence with approximately 1,700 locations across 34 states.
• Ranked as one of ExxonMobil's largest distributors by fuel volume in the U.S.

Negative

• None.

Allentown, PA, July 23, 2020 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Maintains Quarterly Distribution

·Quarterly distribution of $0.5250 per unit attributable to the second quarter of 2020

ALLENTOWN, PA (July 23, 2020) – 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 second quarter of 2020 (annualized $2.10 per unit). The distribution attributable to the second quarter is payable on August 11, 2020 to all unitholders of record on August 4, 2020.

CrossAmerica will host a conference call on August 7^th at 9:00 a.m. Eastern Time to discuss second quarter earnings results, which will be released after the market closes on Thursday, August 6.

About CrossAmerica Partners LP

CrossAmerica Partners is a leading wholesale distributor of motor fuels 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, 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 for CrossAmerica Partners LP for the second quarter of 2020?

The quarterly distribution amount is $0.5250 per unit.

When will the quarterly distribution be paid to unitholders of CrossAmerica Partners LP?

The distribution will be paid on August 11, 2020, to unitholders of record on August 4, 2020.

When is the conference call to discuss the second quarter earnings results for CAPL?

The conference call is scheduled for August 7, 2020, at 9:00 a.m. Eastern Time.

How many locations does CrossAmerica Partners LP operate?

CrossAmerica Partners operates approximately 1,700 locations across the United States.