Global Partners LP - GLP STOCK NEWS

Global Partners LP (NYSE: GLP) reported significant financial results for Q4 and the full year 2020, achieving $102.2 million in net income, $287.7 million in Adjusted EBITDA, and $156.4 million in distributable cash flow, all reflecting year-over-year increases. The fourth quarter net income stood at $4.4 million, a recovery from a loss in Q4 2019. Despite a decrease in total sales to $2.2 billion, driven by lower prices and volumes, gross profit increased to $166.2 million. The partnership announced a quarterly cash distribution of $0.55 per unit.

Global Partners LP (NYSE: GLP) is set to announce its fourth-quarter and full-year 2020 financial results on March 5, 2021, before market opening. A conference call will follow at 10:00 a.m. ET for investors and analysts, with dial-in options provided for both U.S. and international participants. With around 1,550 locations in the Northeast, Global is a major player in gasoline and convenience store operations, also managing a significant terminal network for fuel distribution. Details will be accessible on their Investor Relations website.

Global Partners LP (NYSE: GLP) announced an increase in its quarterly cash distribution by $0.05 per unit, raising it to $0.55 per unit ($2.20 annualized). This distribution will cover the period from October 1 to December 31, 2020, and will be paid on February 12, 2021, to unitholders of record as of February 8, 2021. The press release also outlines withholding tax implications for non-U.S. investors, indicating that 100% of distributions are taxable at the highest rate. Global Partners operates approximately 1,550 locations in the Northeast and has a significant terminal network.

Global Partners LP (NYSE: GLP) announced a quarterly cash distribution of $0.609375 per unit on its Series A preferred units, effective for the period from November 15, 2020 to February 14, 2021. This distribution totals $2.4375 per unit on an annualized basis and will be payable on February 16, 2021 to unitholders of record as of February 1, 2021.

Brokers should treat distributions to non-U.S. investors as connected to U.S. trade or business, subject to federal income tax withholding at the highest rate.

Global Partners LP (NYSE: GLP) has entered into an agreement to acquire the retail fuel and convenience store assets of Consumers Petroleum of Connecticut. This acquisition includes 27 company-operated gas stations with Wheels-branded convenience stores and fuel supply agreements for approximately 25 additional gas stations in Connecticut and New York. The deal is anticipated to enhance Global Partners' retail presence in Connecticut and is expected to be accretive within the first full year. Closing is set for the first half of 2021, pending regulatory approvals.

Global Partners LP (NYSE: GLP) has announced a quarterly cash distribution increase of 4.125 cents to $0.50 per unit, equivalent to $2.00 annually. This distribution pertains to the period from July 1 to September 30, 2020, and will be payable on November 13, 2020, to unitholders of record by November 9, 2020. The announcement indicates strong performance amid ongoing economic conditions. Furthermore, non-U.S. investors should be aware that distributions are subject to federal income tax withholding at applicable rates.

Global Partners LP (NYSE: GLP) will announce its third-quarter 2020 financial results before the market opens on November 5, 2020. The company will host a conference call at 10:00 a.m. ET on the same day, providing investors and analysts with insights into its performance. The call can be accessed via dial-in numbers for U.S. and international participants, and will also be available through a live webcast on the Investor Relations section of Global's website.

Global Partners LP (NYSE: GLP) has announced a quarterly cash distribution of $0.609375 per unit on its Series A preferred units, representing an annualized rate of $2.4375. This payment is for the period August 15, 2020 to November 14, 2020 and will be distributed on November 16, 2020 to unitholders of record as of November 2, 2020. The press release also highlights that all distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable rate. Global Partners operates approximately 1,550 locations across the Northeast.

Global Partners LP (NYSE: GLP) has appointed Robert W. Owens to its Board of Directors, effective October 1, 2020. Owens, with over four decades in the energy sector, is recognized for his leadership at Sunoco, where he oversaw significant growth through strategic acquisitions. His experience includes executive roles at Ultramar Diamond Shamrock, Amerada Hess, and Mobil Oil. Chairman Richard Slifka highlights Owens' governance expertise and leadership as a valuable addition to the board, enhancing its strategic insights and skillset.