NGL Energy Partners LP in Tulsa 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 December 31, 2019 .
This cash distribution is payable on February 14, 2020 to common unitholders of record at the close of business on February 7, 2020 .
Additionally, the Board of Directors declared a cash distribution in the required amount of $6,075,062.50 , 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 shall automatically increase by the non-cash accretion amount of $6,075,062.50 , both for the quarter ended December 31, 2019 . The Class D Preferred distribution will also be made on February 14, 2020 .
Source: NGL press release