Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution for the quarter ending March 31, 2022. The Board of Directors declared a quarterly cash distribution of $0.15 per common unit, amounting to an annualized $0.60. For the 8.75% Class A Convertible Preferred Units, a distribution of $0.7374 per unit will be paid, leading to an annualized $2.9496. Payments are scheduled for May 13, 2022, for holders of record by April 29, 2022.

Positive

• Quarterly cash distribution of $0.15 per common unit, $0.60 annualized.
• Preferred units receive a distribution of $0.7374, $2.9496 annualized.
• Scheduled distribution payments indicate strong liquidity.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that, on April 6, 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 March 31, 2022. These distributions will be paid on May 13, 2022 to holders of record at the close of business on April 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/20220407005157/en/

Genesis Energy, L.P.

Dwayne Morley

VP – Investor Relations

(713) 860-2536

Source: Genesis Energy, L.P.

FAQ

When will Genesis Energy (GEL) pay its next distribution?

Genesis Energy will pay its next distribution on May 13, 2022.

What is the quarterly cash distribution for Genesis Energy's common units?

The quarterly cash distribution for common units is $0.15.

What is the annualized distribution for Genesis Energy's preferred units?

The annualized distribution for preferred units is $2.9496.

What is the record date for the upcoming distribution for GEL?

The record date for the upcoming distribution is April 29, 2022.