IRVING, Texas--(BUSINESS WIRE)--JP Energy Partners LP (“JPE”) (NYSE:JPEP) announced today that the Board of Directors of its general partner has declared a cash distribution for the first quarter of 2016 of $0.325 per unit. This distribution corresponds to the minimum quarterly distribution of $0.325 per unit, or $1.30 per unit on an annualized basis. The distribution will be paid on May 13, 2016 to all unitholders of record on May 6, 2016.
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b) (4) and (d). Please note that 100% of JPE's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of JPE's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not JPE, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
About JP Energy Partners LP
JP Energy Partners LP (JPEP) is a publicly traded, growth-oriented limited partnership that owns, operates, develops and acquires a diversified portfolio of midstream energy assets. Our operations currently consist of: (i) crude oil pipelines and storage; (ii) refined products terminals and storage; and (iii) NGL distribution and sales, which together provide midstream infrastructure solutions for the growing supply of crude oil, refined products and NGLs in the United States. To learn more, please visit our website at www.jpenergypartners.com.
Forward looking statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as "possible," "if," "will" and "expect" and involve risks and uncertainties including, among others, that JPE's business plans may change as circumstances warrant. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in each of JPE’s documents and reports filed with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and JPE undertakes no obligation and does not intend to correct or update these forward-looking statements to reflect events or circumstances occurring after this press release except as required by law. You are cautioned not to place undue reliance on these forward-looking statements.