TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner declared a quarterly distribution of $0.6250 per unit ($2.50 on an annualized basis) for the quarter ended March 31, 2015.
This distribution represents a 1.21% increase over the prior quarterly distribution of $0.6175 per unit and a 13.38% increase over the distribution paid for the same quarter a year ago. This distribution is payable on May 15, 2015, to unitholders of record entitled to receive the distribution at the close of business on May 5, 2015. This is the fourteenth 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 five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane. 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.
