NGL Energy Partners LP announced an increased quarterly distribution of 56 to 60 cents a share on some of its units.
The Tulsa company said the distribution for the quarter ending September 30, 2020 will be paid to holders of its 9% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units and its 9.625% Class C units.
Holders of the Class B units will get a distribution of $0.5625 per unit while the Class C unit holders will receive a payment of $0.60156 per unit.
The distribution will be made Oct. 15, 2020 to holders of record at the close of trading on Sept. 30, 2020.
NGL last issued a distribution of 20 cents a share in April while it issued a 39 cent distribution in January.
Source: NGL Energy Partners