Oklahoma City’s Blueknight Energy Partners, L.P. announced an 8-cent dividend for the second quarter of the year.
The cash distribution is on the Partnership’s common units and there is also a cash distribution of $0.17875 per unit on the Partnership’s preferred units.
The distributions are payable on Aug. 14 on all outstanding common and preferred units to unitholders of record as of the close of business on Aug. 3, 2018.
“We continue to execute on the transactions outlined in our first quarter earnings conference call,” said CEO Mark Hurley. ” During that call we indicated that we would amend our credit facility, undertake an asset sale and reduce our common unit distribution.”
The company amended its credit facility prior to the end of the quarter and announced the $90 million sale of three asphalt terminals to Ergon in Saginaw and Lubbock, Texas and Memphis, Tennessee. The sale transaction closed July 12.
While the change in common unit distribution dropped from 14 cents to 8 cents, Hurley is optimistic.
” We are now entering into the busy season for our asphalt facilities and crude oil activity in Oklahoma remains robust. We look forward to discussing second quarter results the first week of August.”
