NGL Energy Partners LP Announces Quarterly Cash Distribution for Class B and Class C Preferred Units

Rhea-AI Summary

NGL Energy Partners LP (NYSE: NGL) has announced a distribution for the quarter ending December 31, 2020. The Board declared a quarterly distribution of $0.5625 for the 9.00% Class B Preferred Units and $0.60156 for the 9.625% Class C Preferred Units. These distributions will be paid on January 15, 2021, to holders of record as of January 1, 2021. NGL operates as a diversified midstream energy company, offering logistics services for crude oil and natural gas liquids and managing water disposal from oil and gas production.

Positive

• Quarterly distribution of $0.5625 per Class B Preferred Unit.
• Quarterly distribution of $0.60156 per Class C Preferred Unit.
• Distributions indicate the company's commitment to returning value to shareholders.

Negative

• None.

NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending December 31, 2020 to be paid to the holders of the Partnership’s 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class B Preferred Units”) and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class C Preferred Units”) in accordance with the terms outlined in NGL’s partnership agreement. Each of the Class B Preferred Units quarterly distribution of $0.5625 per unit and the Class C Preferred Units quarterly distribution of $0.60156 per unit will be made on January 15, 2021 to holders of record on January 1, 2021.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201217005318/en/

FAQ

What is the distribution amount for NGL Energy Partners LP for Q4 2020?

NGL Energy Partners LP announced a distribution of $0.5625 for Class B Preferred Units and $0.60156 for Class C Preferred Units.

When will NGL Energy Partners LP distribute dividends?

Distributions will be paid on January 15, 2021, to holders of record as of January 1, 2021.

What is the significance of NGL's preferred units distribution?

The distributions highlight NGL's commitment to providing returns to holders of its preferred units.

What type of company is NGL Energy Partners LP?

NGL Energy Partners LP is a diversified midstream energy company involved in logistics services for crude oil and natural gas liquids.