Tulsa’s Cypress Environmental Partners, L.P. announced Wednesday a suspension of quarterly distributions because of the COVID-19 pandemic.
The company’s board of directors of its general partner elected to suspend the quarterly distributions until further notice. The board said the move was a response to the “energy industry challenges and the COVID-19 crisis” and made “to protect its balance shee.”
The board said it will continue to evaluate its future distribution each quarter until it felt it was prudent to resume distributions.
“These are unprecedented times that require extraordinary actions, precautions, and prudence. CELP will report its 2nd quarter results during the second week of August 2020.”
Source: BusinessWire