Global Partners Declares Increased Cash Distribution for the First Quarter
WALTHAM, Mass. -- April 24, 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.
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
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.
Global Partners LP
Thomas J. Hollister, 781-894-8800
Chief Operating Officer and
Chief Financial Officer
Edward Faneuil, 781-894-8800
Executive Vice President,
General Counsel and Secretary
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