Global Partners Announces Cash Distributions on Series A and B Preferred Units
The applicable distribution rate on the Series A preferred units, as calculated by the Partnership’s calculation agent, is approximately 12.40%, based on a determination date of August 11, 2023.
- The applicable distribution rate on the Series A preferred units, as calculated by the Partnership’s calculation agent, is approximately 12.40%, based on a determination date of August 11, 2023.
- This distribution will be payable on November 15, 2023 to holders of record as of the opening of business on November 1, 2023.
- The Board also declared a cash distribution of $0.59375 per unit ($2.375 per unit on an annualized basis) on the Partnership’s 9.50% fixed-rate Series B preferred units for the period from August 15, 2023 through November 14, 2023.
- Accordingly, GLP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.