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 $0.58875 per unit ($2.355 on an annualized basis) for the quarter ended June 30, 2014. This distribution represents a 6.8% increase over the prior quarterly distribution of $0.55125 per unit and a 19.2% increase over the distribution paid in August 2013. This distribution is payable on August 14, 2014, to unitholders of record entitled to receive the distribution as of the close of business on August 4, 2014. This is the eleventh 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. 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.