WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 23, 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 $0.60 per unit ($2.40 per unit on an
annualized basis) on all of its outstanding common units for the period
from July 1 through September 30, 2013. The distribution will be paid
November 14, 2013 to unitholders of record as of the close of business
November 5, 2013.
The distribution to be paid in November 2013 represents an increase of
approximately 2% over the quarterly distribution of $0.5875 per unit
paid in August 2013 and an increase of approximately 13% over the
quarterly distribution of $0.5325 per unit paid in November 2012.
About Global Partners LP
A publicly traded master limited
partnership, Global Partners LP is a midstream logistics and marketing
company. Global owns, controls or has access to one of the largest
terminal networks of refined petroleum products and renewable fuels in
the Northeast, and is one of the largest distributors of gasoline,
distillates, residual oil and renewable fuels to wholesalers, retailers
and commercial customers in New England and New York. Global is a leader
in the purchasing, selling and logistics of transporting domestic and
Canadian crude oil and other products by rail across its “virtual
pipeline” from the mid-continent region of the U.S. and Canada to the
East and West Coasts for distribution to refiners and other customers.
With a portfolio of approximately 900 locations primarily in the
Northeast, Global also is one of the largest independent owners,
suppliers and operators of gasoline stations and convenience stores. In
addition, Global is a distributor of natural gas and propane. Global is
No. 157 in the Fortune 500 list of America’s largest corporations. For
additional information visit www.globalp.com.
Forward-looking Statements
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,” “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 Commission.
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.
Source: Global Partners LP
Global Partners LP
Daphne H. Foster, 781-894-8800
Chief
Financial Officer
or
Edward Faneuil, 781-894-8800
Executive
Vice President,
General Counsel and Secretary