TULSA, Okla.--(BUSINESS WIRE)--
NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner has declared a quarterly distribution of $0.39 per unit, or $1.56 on an annualized basis, for the quarter ended September 30, 2016. This cash distribution is payable on November 14, 2016 to common unitholders of record at the close of business on November 4, 2016.
Additionally, the Board of Directors declared a distribution for the quarter ended September 30, 2016 to be paid to the holders of the Class A Preferred Units according to the terms outlined in the Partnership Agreement. The Class A Preferred distribution will also be made on November 14, 2016.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane. 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.
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