Enviva Partners, LP Announces Twenty-First Consecutive Distribution Increase

Rhea-AI Summary

Enviva Partners, LP (NYSE: EVA) has announced a quarterly distribution of $0.775 per common unit for Q3 2020, marking a significant 15.7% increase from the previous year. This distribution reflects the Partnership's twenty-first consecutive increase since its IPO. The payment will be made on November 27, 2020, to unitholders on record as of November 13, 2020. Enviva, which specializes in producing wood pellets from natural resources, operates nine plants across multiple states and exports products through various marine terminals.

Positive

• Quarterly distribution raised to $0.775, a 15.7% year-over-year increase.
• Twenty-first consecutive distribution increase since IPO.

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• None.

BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly distribution of $0.775 per common unit for the third quarter of 2020. This distribution is the Partnership’s twenty-first consecutive distribution increase since its initial public offering, representing a 15.7 percent increase from the third quarter of 2019. The quarterly distribution will be paid on Friday, November 27, 2020 to unitholders of record as of the close of business on Friday, November 13, 2020.

About Enviva Partners, LP

Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates nine plants with a combined production capacity of approximately 4.9 million MTPY in Virginia, North Carolina, South Carolina, Georgia, Mississippi, and Florida. In addition, the Partnership exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia and the Port of Wilmington, North Carolina and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

To learn more about Enviva Partners, LP, please visit our website at www.envivabiomass.com and follow us on social media @Enviva.

Notice

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