Genesis Energy, L.P. Declares Quarterly Distribution

Rhea-AI Summary

Genesis Energy, L.P. (NYSE: GEL) announced a quarterly cash distribution for common and preferred units. For the quarter ended December 31, 2021, common unit holders will receive $0.15 ($0.60 annualized) per unit, while preferred unit holders will get $0.7374 ($2.9496 annualized) per unit. Distributions will be paid on February 14, 2022, to record holders as of January 31, 2022. Genesis operates primarily in the Gulf Coast, Wyoming, and the Gulf of Mexico, focusing on midstream energy services.

Positive

• Quarterly cash distribution of $0.15 per common unit, $0.60 annualized.
• Preferred units to receive $0.7374 cash distribution, $2.9496 annualized.
• Well-established operations in Gulf Coast, Wyoming, and Gulf of Mexico.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that, on January 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 December 31, 2021. These distributions will be paid on February 14, 2022 to holders of record at the close of business on January 31, 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/20220113005231/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 (GEL) common units?

Genesis Energy (GEL) will pay $0.15 per common unit for the quarter ended December 31, 2021.

When will Genesis Energy (GEL) distribute the cash to unit holders?

Distributions will be paid on February 14, 2022.

What is the annualized distribution for preferred units of Genesis Energy (GEL)?

The annualized distribution for preferred units is $2.9496.