Global Partners Declares Increased Cash Distribution for the First Quarter of 2013
Global Partners LP (NYSE: GLP) announced today that the Board of
Directors of its general partner, Global GP LLC, has declared a
quarterly cash distribution of $0.5825 per unit ($2.33 per unit on an
annualized basis) on all of its outstanding common units for the period
from January 1 through March 31, 2013. The distribution will be paid May
15, 2013 to unitholders of record as of the close of business May 6,
2013.
The distribution to be paid in May 2013 represents a 2.2% increase over
the quarterly distribution of $0.57 per unit paid in February 2013 and a
16.5% increase over the quarterly distribution of $0.50 per unit paid in
May 2012.
About Global Partners LP
A publicly traded master limited partnership, Global Partners LP is a
midstream logistics and marketing company. Global is a leader in the
logistics of transporting Bakken and Canadian crude oil and other energy
products via rail, establishing a ‘virtual pipeline’ from the
mid-continent region of the U.S. and Canada to refiners and other
customers on the East and West coasts. Global owns, controls or has
access to one of the largest terminal networks of petroleum products and
renewable fuels in the Northeast, and is one of the largest wholesale
distributors of gasoline, distillates, residual oil and renewable fuels
to wholesalers, retailers and commercial customers in New England and
New York. With a portfolio of approximately 1,000 locations in nine
states, the Partnership is also one of the largest independent owners,
suppliers and operators of gasoline stations and convenience stores in
the Northeast. In addition, the Partnership is a distributor of natural
gas. Global is No. 182 in the Fortune 500 list of America’s largest
corporations. For additional information visit www.globalp.com.
Forward-looking Statements
Some of the information contained in this news release may contain
forward-looking statements. Forward-looking statements include, without
limitation, any statement that may project, indicate or imply future
results, events, performance or achievements, and may contain the words
“may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,”
“intend,” “estimate,” “continue,” “will likely result,” or other similar
expressions. In addition, any statement made by Global Partners LP’s
management concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business strategies or
prospects and possible actions by Global Partners LP or its subsidiaries
are also forward-looking statements.
Although Global Partners LP believes these forward-looking statements
are reasonable as and when made, there may be events in the future that
Global Partners LP is not able to predict accurately or control, and
there can be no assurance that future developments affecting Global
Partners LP’s business will be those that it anticipates.
For additional information about risks and uncertainties that could
cause actual results to differ materially from the expectations Global
Partners LP describes in its forward-looking statements, please refer to
Global Partners LP’s Annual Report on Form 10-K for the year ended
December 31, 2012 and subsequent filings the Partnership makes with the
Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date on which they are made.
Global Partners LP expressly disclaims any obligation or undertaking to
update forward-looking statements to reflect any change in its
expectations or beliefs or any change in events, conditions or
circumstances on which any forward-looking statement is based.
