WALTHAM, Mass., Jan. 24 /PRNewswire-FirstCall/ -- Global Partners LP
(NYSE: GLP), one of New England's largest wholesale distributors of
distillates, gasoline, residual oil and bunker fuel to wholesalers, retailers
and commercial customers, today announced that its Board of Directors has
increased its quarterly cash distribution by 3% to $0.425 per unit from
$0.4125 per unit. For the fourth quarter of 2005, unitholders will receive a
cash distribution of $0.4111 per unit. This initial distribution is prorated
to cover the period from the closing of the Partnership's initial public
offering on October 4, 2005 through December 31, 2005. The fourth-quarter
distribution will be paid February 14, 2006 to unitholders of record as of the
close of business February 3, 2006.
About Global Partners LP
Global Partners, a master limited partnership based in Waltham,
Massachusetts, is one of the largest wholesale distributors of distillates
(such as home heating oil, diesel and kerosene), gasoline, and residual oil
and bunker fuel to wholesalers, retailers and commercial customers in New
England. Global Partners, which completed its initial public offering in
October 2005, was formed by affiliates of the Slifka family. Global Partners
trades on the New York Stock Exchange under the ticker symbol "GLP." For
additional information, please visit http://www.globalp.com.
Safe Harbor Statement
This news release contains certain "forward-looking statements" within the
meaning of the federal securities laws. These forward-looking statements are
identified as any statements that do not relate strictly to historical or
current facts and can generally be identified by the use of forward-looking
terminology including "will," "may," "believe," "expect," "anticipate,"
"estimate," "continue" or other similar words. Such statements may discuss
future expectations for or contain projections of results of operations,
financial condition or our ability to make distributions to unitholders. These
statements are not guarantees of performance. Although we believe these
forward-looking statements are based on reasonable assumptions, statements
made regarding future results are subject to a number of assumptions,
uncertainties and risks, many of which are beyond our control, which may cause
future results to be materially different from the results stated or implied
in this document. Additional information about risks and uncertainties that
could cause actual results to differ materially from forward-looking
statements is contained under the caption "Risk Factors" in our prospectus
dated September 28, 2005 as filed with the Securities and Exchange Commission
on September 29, 2005 pursuant to Rule 424(b) of the Securities Act of 1933.
We refer you to our prospectus and to subsequent filings we make with the SEC,
including our Quarterly Report on Form 10-Q for the period ended September 30,
2005, for additional information regarding our risks and uncertainties. All
forward-looking statements included in this news release and all subsequent
written or oral forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements speak only as of the
date made, other than as required by law, and we undertake no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
Contacts:
Thomas A. McManmon Jr. Edward J. Faneuil
Executive Vice President and Executive Vice President,
Chief Financial Officer General Counsel and Secretary
Global Partners LP Global Partners LP
(781) 894-8800 (781) 894-8800
SOURCE Global Partners LP