Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a distribution for Q4 2020, with cash distributions set for February 12, 2021. Common unit holders will receive $0.15 per unit, translating to an annualized rate of $0.60, while 8.75% Class A Convertible Preferred Unit holders will receive $0.7374 per unit, or $2.9496 annually. The record date for these distributions is January 29, 2021. Genesis Energy operates in midstream energy services, particularly in the Gulf Coast, Wyoming, and Gulf of Mexico.

Positive

• Quarterly cash distribution of $0.15 per common unit, $0.60 annualized.
• Preferred units receive $0.7374 cash distribution, $2.9496 annualized.
• Distributions reflect stable cash flow and commitment to return value to shareholders.

Negative

• None.

Genesis Energy, L.P. (NYSE: GEL) announced today that, on January 13, 2021, the Board of Directors of its general partner declared a distribution on Genesis’ common units and 8.75% Class A Convertible Preferred Units attributable to the quarter ended December 31, 2020. These distributions will be paid on February 12, 2021 to holders of record at the close of business on January 29, 2021.

Each holder of common units will be paid a quarterly cash distribution of $0.15 ($0.60 on an annualized basis) for each common unit held of record. With respect to the preferred units, Genesis will pay a cash distribution of $0.7374 ($2.9496 on an annualized basis) for each preferred unit held of record.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210114005142/en/

FAQ

What is the cash distribution for Genesis Energy common units?

Genesis Energy common unit holders will receive a quarterly cash distribution of $0.15.

When will Genesis Energy's Q4 2020 distributions be paid?

The distributions will be paid on February 12, 2021.

What is the annualized distribution for Genesis Energy's preferred units?

The annualized distribution for 8.75% Class A Convertible Preferred Units is $2.9496.

When is the record date for the Genesis Energy distributions?

The record date is January 29, 2021.