Global Partners Announces Series A Preferred Unit Distribution
July 20 2020 - 8:30AM
Business Wire
Global Partners LP (NYSE: GLP) announced today that the Board of
Directors of its general partner, Global GP LLC, has declared a
quarterly cash distribution of $0.609375 per unit ($2.4375 per unit
on an annualized basis) on the Partnership’s Series A preferred
units for the period from May 15, 2020 through August 14, 2020.
This distribution will be payable on August 17, 2020 to holders of
record as of the opening of business on August 3, 2020.
Non-U.S. Withholding Information
This press release is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Brokers and nominees
should treat one hundred percent (100%) of GLP’s distributions to
non-U.S. investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, GLP’s distributions to non-U.S. investors are subject
to federal income tax withholding at the highest applicable
effective tax rate.
About Global Partners LP
With approximately 1,550 locations primarily in the Northeast,
Global Partners is one of the region’s largest independent owners,
suppliers and operators of gasoline stations and convenience
stores. Global also owns, controls or has access to one of the
largest terminal networks in New England and New York, through
which it distributes gasoline, distillates, residual oil and
renewable fuels to wholesalers, retailers and commercial customers.
In addition, Global engages in the transportation of petroleum
products and renewable fuels by rail from the mid-continental U.S.
and Canada. Global, a master limited partnership, trades on the New
York Stock Exchange under the ticker symbol “GLP.” For additional
information, visit www.globalp.com.
Forward-looking Statements
Certain statements and information in this press release may
constitute “forward-looking statements.” The words “believe,”
“expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,”
“would,” “could” or other similar expressions are intended to
identify forward-looking statements, which are generally not
historical in nature. These forward-looking statements are based on
Global Partners’ current expectations and beliefs concerning future
developments and their potential effect on the Partnership. While
management believes that these forward-looking statements are
reasonable as and when made, there can be no assurance that future
developments affecting the Partnership will be those that it
anticipates. Forward-looking statements involve significant risks
and uncertainties (some of which are beyond the Partnership’s
control) including, without limitation, the impact and duration of
the COVID-19 pandemic, uncertainty around the timing of an economic
recovery in the United States which will impact the demand for the
products we sell and the services we provide, uncertainty around
the impact of the COVID-19 pandemic to our counterparties and our
customers and their corresponding ability to perform their
obligations and/or utilize the products we sell and/or services we
provide, uncertainty around the impact and duration of federal,
state and municipal regulations related to the COVID-19 pandemic,
and assumptions that could cause actual results to differ
materially from the Partnership’s historical experience and present
expectations or projections.
For additional information regarding known material factors that
could cause actual results to differ from the Partnership’s
projected results, please see Global Partners’ filings with the
SEC, including its Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
The Partnership undertakes no obligation to publicly update or
revise any forward-looking statements after the date they are made,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200720005099/en/
Daphne H. Foster Chief Financial Officer Global Partners LP
(781) 894-8800 Edward J. Faneuil Executive Vice President, General
Counsel and Secretary Global Partners LP (781) 894-8800
Global Partners (NYSE:GLP)
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