Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution of $0.15 per common unit and $0.7374 per Class A Convertible Preferred Unit for Q3 2020. These distributions, amounting to $0.60 and $2.9496 on an annualized basis respectively, will be paid on November 13, 2020, to record holders by October 30, 2020. The company operates in diverse midstream energy sectors, including offshore pipeline transportation and sodium minerals services, primarily in the Gulf Coast and Wyoming regions.

Positive

• Declared quarterly cash distribution of $0.15 per common unit ($0.60 annualized).
• Announced cash distribution of $0.7374 per Class A Convertible Preferred Unit ($2.9496 annualized).
• Scheduled payment date on November 13, 2020, indicates consistent cash flow.

Negative

• None.

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that, on October 6, 2020, 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, 2020. These distributions will be paid on November 13, 2020 to holders of record at the close of business on October 30, 2020.

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.