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Genesis Energy, L.P. Declares Quarterly Distribution
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
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Rhea-AI Summary
Genesis Energy, L.P. declares distribution for Q3 2023
Positive
Genesis Energy, L.P. has announced a distribution for its common units and Class A Convertible Preferred Units for the quarter ended September 30, 2023. Each holder of common units will receive a quarterly cash distribution of $0.15 ($0.60 annualized) for each unit held. For preferred units, a cash distribution of $0.9473 ($3.7892 annualized) will be paid. The distributions will be paid on November 14, 2023, to holders of record as of October 31, 2023.
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HOUSTON--(BUSINESS WIRE)--
Genesis Energy, L.P. (NYSE: GEL) announced today that, on October 11, 2023, the Board of Directors of its general partner declared a distribution on Genesis’ common units and Class A Convertible Preferred Units attributable to the quarter ended September 30, 2023. These distributions will be paid on November 14, 2023 to holders of record at the close of business on October 31, 2023.
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 $0.9473 ($3.7892 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 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.
This press release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Genesis Energy’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Genesis Energy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
What is the distribution announced by Genesis Energy, L.P.?
Genesis Energy, L.P. has announced a distribution for its common units and Class A Convertible Preferred Units for the quarter ended September 30, 2023.
When will the distributions be paid?
The distributions will be paid on November 14, 2023.
How much will common unit holders receive?
Each holder of common units will receive a quarterly cash distribution of $0.15 ($0.60 annualized) for each unit held.
How much will preferred unit holders receive?
For preferred units, a cash distribution of $0.9473 ($3.7892 annualized) will be paid.
Who is eligible to receive the distributions?
Holders of record as of October 31, 2023, are eligible to receive the distributions.
