Tulsa’s NGL Energy Partners LP announced that the Board of Directors of its general partner has declared a quarterly distribution of $0.39 per unit, or $1.56 per unit on an annualized basis, for the quarter ended September 30, 2019.
This cash distribution is payable on November 14, 2019 to common unitholders of record at the close of business on November 7, 2019.
Additionally, the Board of Directors declared a cash distribution in the required amount of $4.5 million, which amount represents 50% of the Class D Distribution Amount to be paid to the holders of the Class D Preferred Units and the Class D Stated Value Units shall automatically increase by the non-cash accretion amount of approximately $4.5 million both for the quarter ended September 30, 2019. The Class D Preferred distribution will also be made on November 14, 2019.
