OCI Resources LP (the "Partnership") (NYSE: OCIR) announced today the
approval of an increase of 5% in the distribution to be paid to
unitholders and the approval of its quarterly distribution by the board
of directors of its general partner. The minimum quarterly distribution
of $0.525 for the third quarter of 2014 is payable on November 14, 2014,
to unitholders of record on October 31, 2014.
Kirk Milling, CEO, commented, "Since our IPO, we have continued
investing in our Green River facility to improve efficiencies and
overall output. Now that we are realizing the benefits of these
investments, we are in a position to increase our minimum quarterly
distribution by 5% and still maintain consistency in our coverage ratio
going forward."
About OCI Resources LP
OCI Resources LP, a master limited partnership, operates the trona ore
mining and soda ash production business of OCI Wyoming LLC, ("OCI
Wyoming"), one of the largest and lowest cost producers of natural soda
ash in the world, serving a global market from its facility in the Green
River Basin of Wyoming. The facility has been in operation for more than
50 years.
Forward-Looking Statements
This press release may contain forward-looking statements. Statements
other than statements of historical facts included in this press release
may constitute forward-looking statements and are not guarantees of
future performance or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described in the Partnership's filings with the SEC. The
Partnership undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the date of
this press release.
Qualified Notice
This release is intended to be a qualified notice to nominees as
provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d).
Please note that 100 percent of the Partnership's distributions to
foreign investors are attributable to income that is effectively
connected with a United States trade or business. Accordingly, all of
the Partnership's distributions to foreign investors are subject to
federal income tax withholding at the highest effective tax rate for
individuals or corporations, as applicable. Nominees, and not the
Partnership, are treated as the withholding agents responsible for
withholding on the distributions received by them on behalf of foreign
investors.
Copyright Business Wire 2014