A quarterly dividend of 5 cents a common unit has been declared by Blueknight Energy Partners, L.P. in Oklahoma City.
The company also said it would make a cash distribution of $0.17875 per unit on the Partnership’s preferred units.
“The reduction of the common unit distribution to $0.04 per common unit is a key step in our efforts to strengthen our balance sheet,” explained Mark Hurley, CEO of the Partnership. “Our previous earnings guidance as well as our year-end targets of distribution—-remain unchanged.”
The distributions will be payable May 14, 2019 on all outstanding common and preferred units to unitholders of record as of the close of business on May 3, 2019.