Enviva Partners, LP Announces Twenty-Second Consecutive Distribution Increase

Rhea-AI Summary

Enviva Partners, LP (NYSE: EVA) announced a quarterly distribution of $0.78 per common unit for Q4 2020, marking the twenty-second consecutive increase since its IPO. This represents a 15.6% increase from Q4 2019. The payment will be made on February 26, 2021 to unitholders of record as of February 15, 2021. Enviva operates nine plants with a combined capacity of approximately 4.9 million metric tons annually, primarily exporting wood pellets through long-term contracts in the UK and Europe.

Positive

• Quarterly distribution increased to $0.78 per common unit.
• 15.6% increase in distribution compared to Q4 2019.
• Twenty-second consecutive distribution increase since IPO.

Negative

• None.

Enviva Partners, LP (NYSE: EVA) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly distribution of $0.78 per common unit for the fourth quarter of 2020. This distribution is the Partnership’s twenty-second consecutive distribution increase since its initial public offering, representing a 15.6 percent increase from the fourth quarter of 2019. The quarterly distribution will be paid on Friday, February 26, 2021 to unitholders of record as of the close of business on Monday, February 15, 2021.

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 metric tons per year 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005789/en/

FAQ

What is the latest distribution announced by Enviva Partners for Q4 2020?

Enviva Partners announced a quarterly distribution of $0.78 per common unit for Q4 2020.

When will Enviva Partners pay its Q4 2020 distribution?

The distribution will be paid on February 26, 2021.

What was the percentage increase in Enviva Partners' distribution from Q4 2019?

The distribution increased by 15.6% from Q4 2019.

How many consecutive distribution increases has Enviva Partners achieved?

Enviva Partners has achieved twenty-two consecutive distribution increases since its IPO.

What is the combined production capacity of Enviva Partners' plants?

Enviva Partners operates nine plants with a combined production capacity of approximately 4.9 million metric tons per year.