Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) has declared a distribution for its common and 8.75% Class A Convertible Preferred Units for the quarter ending June 30, 2021. The cash distribution of $0.15 per common unit ($0.60 annually) and $0.7374 per preferred unit ($2.9496 annually) will be paid on August 13, 2021, to holders on record as of July 30, 2021. Genesis operates in midstream energy, focusing on offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation in the U.S. Gulf Coast and beyond.

Positive

• Declaration of quarterly cash distribution of $0.15 per common unit ($0.60 annualized).
• Cash distribution of $0.7374 per preferred unit ($2.9496 annualized) provides steady income to investors.

Negative

• None.

Genesis Energy, L.P. (NYSE: GEL) announced today that, on July 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 June 30, 2021. These distributions will be paid on August 13, 2021 to holders of record at the close of business on July 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.

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FAQ

What is the cash distribution for Genesis Energy (GEL) common units?

Genesis Energy (GEL) has declared a cash distribution of $0.15 per common unit for the quarter ended June 30, 2021.

When will Genesis Energy distribute dividends?

The cash distributions will be paid on August 13, 2021, to holders of record as of July 30, 2021.

What are the distributions for Genesis Energy preferred units?

The distribution for Genesis Energy's 8.75% Class A Convertible Preferred Units is $0.7374 per unit.

What is the annualized distribution for common units of GEL?

The annualized distribution for common units is $0.60.

Where does Genesis Energy operate?

Genesis Energy operates primarily in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.