WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 24, 2008--Global Partners LP
(NYSE: GLP) today announced that it has declared a quarterly cash
distribution of $0.4875 per unit ($1.95 per unit on an annualized
basis) on all of its outstanding common and subordinated units for the
period from October 1, 2007 through December 31, 2007. The
distribution will be paid February 14, 2008 to unitholders of record
as of the close of business February 5, 2008.
The distribution to be paid in February 2008 represents increases
of approximately 7.1% over the quarterly distribution of $0.4550 paid
in February 2007 and 1.6% over the quarterly distribution of $0.4800
paid in November 2007.
About Global Partners LP
Global Partners LP, a publicly traded master limited partnership
based in Waltham, Massachusetts, owns, controls or has access to one
of the largest terminal networks of refined petroleum products in the
Northeast. The partnership is one of the largest wholesale
distributors of gasoline, distillates (such as home heating oil,
diesel and kerosene) and residual oil to wholesalers, retailers and
commercial customers in the Northeast. Global Partners LP, a FORTUNE
500(R) company, trades on the New York Stock Exchange under the ticker
symbol "GLP." For additional information, please visit
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
business prospects, goals, new developments and future expectations or
contain projections of results of operations, financial condition and
Global Partners LP's ability to make distributions to unitholders.
These statements are not guarantees of performance. Although Global
Partners LP believes 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 the control of Global Partners LP, which may cause
actual results to be materially different from the forward-looking
statements contained in this news release. For specific risks and
uncertainties that could cause actual results to differ materially
from forward-looking statements, please refer to Global Partners LP's
Annual Report on Form 10-K for the year ended December 31, 2006 and
Quarterly Report on Form 10-Q for the three months ended September 30,
2007 and subsequent filings the partnership makes with the Securities
and Exchange Commission. All forward-looking statements included in
this news release and all subsequent written or oral forward-looking
statements attributable to Global Partners LP or persons acting on its
behalf are expressly qualified in their entirety by these cautionary
statements. The forward-looking statements speak only as of the date
made, and Global Partners LP undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
CONTACT: Global Partners LP
Thomas J. Hollister, 781-894-8800
Chief Operating Officer and Chief Financial Officer
or
Edward Faneuil, 781-894-8800
Executive Vice President, General Counsel and Secretary
SOURCE: Global Partners LP