Natural Resource Partners Declares Fourth Quarter 2020 Distributions

Rhea-AI Summary

Natural Resource Partners L.P. (NYSE: NRP) declared a fourth quarter distribution of $0.45 per common unit, payable on February 26, 2021. The record date is February 22, 2021. Additionally, the Board announced a $7.6 million distribution for its 12.0% Class A Convertible Preferred Units, to be paid in cash and additional preferred units. NRP operates a diversified portfolio of mineral properties in the U.S., including coal and industrial minerals. Foreign investors should note that distributions are subject to federal income tax withholding at the highest applicable rate.

Positive

• Fourth quarter common unit distribution of $0.45, indicating consistent return to unitholders.
• Declared $7.6 million distribution on preferred units, showcasing strong cash flow.

Negative

• None.

Natural Resource Partners L.P. (NYSE: NRP) today announced that the Board of Directors of its general partner declared a fourth quarter 2020 distribution of $0.45 per common unit for NRP. The distribution will be paid on February 26, 2021 to unitholders of record on February 22, 2021.

The Board also declared a fourth quarter distribution on NRP’s 12.0% Class A Convertible Preferred Units totaling $7.6 million. The distribution includes interest on previously paid-in-kind units and will be paid one-half in cash and one-half in kind through the issuance of additional preferred units.

Company Profile

Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a natural resource company that owns, manages and leases a diversified portfolio of mineral properties in the United States, including interests in coal, industrial minerals and other natural resources, and owns an equity investment in Ciner Wyoming, a trona/soda ash operation.

Withholding Information for Foreign Investors

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of NRP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, NRP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.

For additional information please contact Tiffany Sammis at 713-751-7515 or tsammis@nrplp.com. Further information about NRP is available on the partnership’s website at http://www.nrplp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210211005840/en/

FAQ

What is the fourth quarter 2020 distribution for NRP?

Natural Resource Partners declared a fourth quarter 2020 distribution of $0.45 per common unit.

When will NRP's fourth quarter distribution be paid?

The distribution will be paid on February 26, 2021, to unitholders of record as of February 22, 2021.

What is the total amount of the distribution on NRP's Class A Convertible Preferred Units?

The total distribution on NRP’s 12.0% Class A Convertible Preferred Units is $7.6 million.

Are NRP's distributions to foreign investors subject to withholding tax?

Yes, NRP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.