Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution for its common and Class A Convertible Preferred Units on July 12, 2022. For the quarter ending June 30, 2022, holders of common units will receive $0.15 per unit ($0.60 annually), while preferred unit holders will receive $0.7374 per unit ($2.9496 annually). These distributions will be paid on August 12, 2022, to investors on record as of July 29, 2022. Genesis operates in the midstream energy sector, primarily in the Gulf Coast region and Gulf of Mexico.

Positive

• Quarterly cash distribution of $0.15 per common unit ($0.60 annualized).
• Preferred units to receive $0.7374 per unit ($2.9496 annualized).
• Stable cash distributions indicate ongoing financial health.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that, on July 12, 2022, 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, 2022. These distributions will be paid on August 12, 2022 to holders of record at the close of business on July 29, 2022.

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/20220713005093/en/

Genesis Energy, L.P.

Dwayne Morley

VP – Investor Relations

(713) 860-2536

Source: Genesis Energy, L.P.

FAQ

What is the cash distribution for Genesis Energy common units for Q2 2022?

Genesis Energy will pay a cash distribution of $0.15 per common unit for the quarter ended June 30, 2022.

When is the payment date for the cash distributions announced by Genesis Energy?

The cash distributions will be paid on August 12, 2022.

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

The Class A Convertible Preferred Units will receive a cash distribution of $0.7374 per unit.

What are the record dates for the cash distributions declared by Genesis Energy?

The record date for the cash distributions is July 29, 2022.

Which sectors does Genesis Energy operate in?

Genesis Energy operates in the midstream energy sector, including offshore pipeline transportation and marine transportation.