NGL Energy Partners LP Announces Quarterly Cash Distribution for Class B and Class C Preferred Units
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TULSA, Okla.–(BUSINESS WIRE)–Sep 15, 2020–
NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending September 30, 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 October 15, 2020 to holders of record at the close of trading on September 30, 2020.
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/20200915006254/en/
CONTACT: NGL Energy Partners LP
Trey Karlovich, 918.481.1119
Executive Vice President and Chief Financial Officer
[email protected] Bridges, 918.481.1119
Senior Vice President – Finance and Treasurer
KEYWORD: OKLAHOMA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OIL/GAS ENERGY
SOURCE: NGL Energy Partners LP
Copyright Business Wire 2020.
PUB: 09/15/2020 05:30 PM/DISC: 09/15/2020 05:30 PM