NGL wraps up late shareholder payments


NGL Energy Partners LP caught up on some late payments this week to its shareholders and at the same time offered cash distributions of more than $115 million to other shareholders.

The Tulsa company’s Board of Directors of the general partner declared a distribution of 50% of the “arrearages” earned through Dec. 31 of 2023 to be paid to holders of the Partnership’s 12.806% Class B preferred units and the 9.625% Class C preferred units.

As outlined in the announcement, each holder of the Class B units will receive $4.4439 per unit and each holder of the Class C units will be paid $4.0746 per unit. Payments will be made on Feb. 27 to holders of record at the close of trading on Feb.16 of this year.

The Board of Directors also declared a cash distribution totaling $115,035,820.87 which represents 50% of the arrearages earned on the Class D preferred units through December 31 of last year. Those payments will also be made on Feb. 27 of this year.