Global Partners Declares First-Quarter 2022 Cash Distribution of $0.5950 on Common Units

Rhea-AI Summary

Global Partners LP (NYSE: GLP) announced a quarterly cash distribution of $0.5950 per unit for the period from January 1 to March 31, 2022, equating to an annualized rate of $2.38 per unit. This distribution will be paid on May 13, 2022 to unitholders of record as of May 9, 2022. The announcement indicates a stable cash return to investors amidst ongoing operations in a competitive market.

Positive

• Quarterly cash distribution of $0.5950 indicates financial stability.
• Annualized cash distribution rate of $2.38 reflects consistent returns for investors.

Negative

• None.

WALTHAM, Mass.--(BUSINESS WIRE)-- Global Partners LP (NYSE: GLP) announced today that the Board of Directors of its general partner, Global GP LLC, has declared a quarterly cash distribution of $0.5950 per unit ($2.38 per unit on an annualized basis) on all of its outstanding common units for the period from January 1 to March 31, 2022. The distribution will be paid May 13, 2022 to unitholders of record as of the close of business on May 9, 2022.

Non-U.S. Withholding Information

This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of GLP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, GLP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

About Global Partners LP

With approximately 1,700 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.

Forward-looking Statements

Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global’s current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services that we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.

For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global’s filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220425006001/en/

Gregory B. Hanson

Chief Financial Officer

Global Partners LP

(781) 894-8800

Sean T. Geary

Chief Legal Officer and Secretary

Global Partners LP

(781) 894-8800

Source: Global Partners LP

FAQ

What is the cash distribution announced by Global Partners LP for Q1 2022?

Global Partners LP announced a cash distribution of $0.5950 per unit for the first quarter of 2022.

When will Global Partners LP's cash distribution be paid?

The cash distribution will be paid on May 13, 2022, to unitholders of record as of May 9, 2022.

What is the annualized distribution rate for Global Partners LP in 2022?

The annualized distribution rate for Global Partners LP is $2.38 per unit.

What does the cash distribution mean for GLP investors?

The cash distribution indicates financial stability and commitment to returning value to GLP investors.