Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a distribution on its common units and 8.75% Class A Convertible Preferred Units for Q3 2021. The Board of Directors declared a cash distribution of $0.15 per common unit and $0.7374 per preferred unit, payable on November 12, 2021. Record date for common units is October 29, 2021. Genesis operates primarily in the Gulf Coast region, providing pipeline transportation and sodium mineral services.

Positive

• Quarterly cash distribution of $0.15 ($0.60 annualized) for common units.
• Classes A Convertible Preferred Units will receive $0.7374 ($2.9496 annualized).

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that, on October 5, 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 September 30, 2021. These distributions will be paid on November 12, 2021 to holders of record at the close of business on October 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/20211006005133/en/

Genesis Energy, L.P.

Ryan Sims

SVP – Finance and Corporate Development

(713) 860-2521

Source: Genesis Energy, L.P.

FAQ

What is the distribution amount for Genesis Energy's common units in Q3 2021?

Genesis Energy declared a quarterly cash distribution of $0.15 per common unit for Q3 2021.

When will the distributions be paid to Genesis Energy's unit holders?

Distributions will be paid on November 12, 2021, to holders of record as of October 29, 2021.

What is the distribution for Genesis Energy's Class A Convertible Preferred Units?

The distribution for Class A Convertible Preferred Units is $0.7374 per unit for Q3 2021.

What date was the distribution declared for Genesis Energy?

The distribution was declared on October 5, 2021.

Where is Genesis Energy primarily operating?

Genesis Energy primarily operates in the Gulf Coast region of the United States.