TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner increased the quarterly cash distribution for the second fiscal quarter ended September 30, 2013, by $0.0175 to $0.51125 per outstanding limited partner unit from $0.49375 per unit, resulting in an annualized cash distribution of $2.045 per unit.
This distribution is payable on November 14, 2013, to unitholders of record entitled to receive the distribution as of the close of business on November 4, 2013. This is the eighth consecutive quarter NGL has increased its cash distribution since its public offering in May 2011.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with four primary businesses: water services, crude oil logistics, NGL logistics and retail. NGL completed its initial public offering in May 2011. For further information visit the Partnership's website at www.nglenergypartners.com.
This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.