Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a distribution for its common and preferred units, with payments set for May 14, 2021. Holders of common units will receive a quarterly cash distribution of $0.15 per unit, totaling $0.60 annually. Preferred unit holders will receive $0.7374 per unit, equating to $2.9496 annually. This announcement reflects Genesis’ ongoing commitment to return value to its investors while maintaining its diversified midstream energy operations across the Gulf Coast and other regions.

Positive

• Declared a quarterly cash distribution of $0.15 per common unit.
• Preferred units will see a cash distribution of $0.7374 per unit.
• Commitment to investor returns with consistent distributions.

Negative

• None.

Genesis Energy, L.P. (NYSE: GEL) announced today that, on April 7, 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 March 31, 2021. These distributions will be paid on May 14^th, 2021 to holders of record at the close of business on April 30, 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/20210408005545/en/

FAQ

What distribution has Genesis Energy, L.P. declared for common units?

Genesis Energy declared a quarterly cash distribution of $0.15 per common unit.

When will Genesis Energy distribute payments for their units?

Payments will be made on May 14, 2021.

What is the annualized distribution for preferred units of GEL?

The annualized distribution for preferred units is $2.9496.

Who is eligible for the distribution declared by Genesis Energy?

Holders of record as of the close of business on April 30, 2021, are eligible.