Oiltanking Partners, L.P. Increases The Distribution On Limited Partner Units
HOUSTON, Jan. 22, 2013
HOUSTON, Jan. 22, 2013 /PRNewswire/ -- Oiltanking Partners, L.P. (NYSE: OILT)
announced today that the Board of Directors of its general partner has
declared a cash distribution for the fourth quarter of 2012 of $0.39 per unit,
or $1.56 per unit on an annualized basis, for all of its outstanding limited
partner units. The fourth quarter distribution represents a 4.0% increase
over the prior quarter distribution of $0.375 per limited partnership unit.
The distribution will be paid on February 14, 2013 to all unitholders of
record on February 1, 2013.
Oiltanking Partners is a master limited partnership engaged in independent
storage and transportation of crude oil, refined petroleum products and
liquefied petroleum gas. We provide our services to a variety of customers,
including major integrated oil companies, distributors, marketers and chemical
and petrochemical companies. Our assets are located along the Gulf Coast of
the United States. For more information, visit www.oiltankingpartners.com.
This press release contains forward-looking statements. These forward-looking
statements reflect Oiltanking Partners' current views with respect to future
events, based on what it believes are reasonable assumptions. No assurance can
be given, however, that these events will occur. These statements are subject
to risks and uncertainties as described in Oiltanking Partners' filings with
the Securities and Exchange Commission, available at the SEC's website at
www.sec.gov. By issuing forward-looking statements based on current
expectations, opinions, views or beliefs, Oiltanking Partners has no
obligation and, except as required by law, is not undertaking any obligation,
to update or revise these statements or provide any other information relating
to such statements.
This release is intended to be a qualified notice, as provided for under
Treasury Regulation Section 1.1446-4(b), given by a publicly traded
partnership for the broker and nominee to be treated as the withholding
agent. Brokers and nominees should treat one hundred percent (100.0%) of
Oiltanking Partners' distributions to foreign investors as being attributable
to income that is effectively connected with a United States trade or
business. Accordingly, Oiltanking Partners' distributions to foreign investors
are subject to federal income tax withholding at the highest applicable
effective tax rate.
Mark Buscovich, Manager FP&A and IR
DRG&L / (713) 529-6600
SOURCE Oiltanking Partners, L.P.
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