WALTHAM, Mass.--(BUSINESS WIRE)--Apr. 23, 2014--
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 $0.6250 per unit ($2.50 per unit on an
annualized basis) on all of its outstanding common units for the period
from January 1 through March 31, 2014. The distribution will be paid May
15, 2014 to unitholders of record as of the close of business May 6,
2014.
The distribution to be paid in May 2014 represents an increase of
approximately 2.0% over the quarterly distribution of $0.6125 per unit
paid in February 2014 and an increase of approximately 7.3% over the
quarterly distribution of $0.5825 per unit paid in May 2013.
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
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 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