Genesis Energy, L.P. Declares Quarterly Distribution

Genesis Energy, L.P. (NYSE: GEL) announced today that, on July 12, 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 June 30, 2023.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, July 13, 2023
Information
Tags: 
Maritime, Other Energy, Transport, Oil, Gas, Energy, Other Transport, Partnership, Gulf Coast of the United States, Genesis Energy, Treasury regulations, Gulf of Mexico, NYSE, Genesis, Security (finance)
Geotags: 
TEXAS, UNITED STATES, NORTH AMERICA, WYOMING
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Organisation: 
GENESIS ENERGY, GENESIS ENERGY, L.P.
Stock Symbol: 
NYSE:GEL
Summary
Key Points: 
  • Genesis Energy, L.P. (NYSE: GEL) announced today that, on July 12, 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 June 30, 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’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.


Genesis Energy, L.P. (NYSE: GEL) announced today that, on July 12, 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 June 30, 2023. These distributions will be paid on August 14, 2023 to holders of record at the close of business on July 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, soda 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.

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