Blueknight Increases Quarterly Distribution
25 Gennaio 2022 - 11:42PM
Blueknight Energy Partners, L.P. (“Blueknight” or the
“Partnership”) (Nasdaq: BKEP and BKEPP), announced today that the
Board of Directors of its general partner declared a 6.25% increase
to the quarterly cash distribution rate to $0.0425 per common unit,
or $0.17 per common unit on an annualized basis. The Partnership
also announced a quarterly cash distribution of $0.17875 per
preferred unit, which is unchanged from the third quarter 2021. The
fourth quarter 2021 distributions are payable on February 14, 2022,
to unitholders of record as of the close of business on February 7,
2022.
“This announcement represents another significant milestone for
Blueknight as we continue to execute and deliver on our strategy,”
commented Andrew Woodward, Chief Executive Officer. “The
Partnership has increased its common unit distribution based on
achieving a stable foundation and generating sustainable growth in
our underlying business that meets our long-term coverage target of
1.30 times or greater on all distributions. We will continue to
balance these decisions with our steadfast commitment to our
capital allocation strategy of prioritizing risk-adjusted
returns through growth projects while meeting our financial targets
over the long term.”
Forward-Looking Statements and Treasury Regulation
Notice
This release may include forward-looking statements. Statements
included in this release that are not historical facts are
forward-looking statements. Such forward-looking statements are
subject to various risks and uncertainties. These risks and
uncertainties include, among other things, uncertainties relating
to the Partnership’s future cash flows and operations, the
Partnership’s ability to pay future distributions, future market
conditions, current and future governmental regulation, future
taxation and other factors discussed in the Partnership’s filings
with the Securities and Exchange Commission. If any of these risks
or uncertainties materializes, or should underlying assumptions
prove incorrect, actual results or outcomes may vary materially
from those expected. The Partnership undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b) (4) and (d). Brokers and nominees
should treat one hundred percent (100.0%) of Blueknight’s
distributions to foreign investors as being attributable to income
that is effectively connected with a United States trade or
business. Accordingly, Blueknight’s distributions to foreign
investors are subject to federal income tax withholding at the
highest applicable effective tax rate. Nominees, and not
Blueknight, are treated as withholding agents responsible for
withholding on the distributions received by them on behalf of
foreign investors.
About Blueknight
Blueknight (Nasdaq: BKEP and BKEPP) is a publicly traded master
limited partnership that owns the largest independent asphalt
terminalling network in the country. Operations include 9.0 million
barrels of liquid asphalt storage capacity across 54 terminals and
26 states throughout the U.S. Blueknight is focused on providing
integrated terminalling solutions for tomorrow’s infrastructure and
transportation end markets. More information is available at
www.bkep.com.
Investor Relations Contact:
Matthew Lewis, Chief Financial Officer
(918) 237-4032
investor@bkep.com
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