BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA) (the “Partnership”) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.2630 per common and subordinated unit for the second quarter of 2015. The distribution represents the prorated amount of the Partnership’s minimum quarterly distribution of $0.4125 per unit, based on the 58 days during the period commencing (and including) May 4, 2015, the date on which the Partnership’s initial public offering closed, and ending June 30, 2015, the last day of the second quarter. The quarterly distribution will be paid on Monday, August 31, 2015, to unitholders of record as of the close of business on Friday, August 14, 2015.
“We are pleased to announce our first distribution. We are committed to driving shareholder value by executing our business strategies of organic and acquisition-based growth and margin expansion through operational excellence, which we expect will enable us to increase our distributions over time in a significant, steady, and sustainable manner,” said John Keppler, Chairman and Chief Executive Officer.
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is the world’s largest supplier of wood pellets to major utilities, serving customers in Europe, Asia, and the United States, generally under long-term contracts. We are a publicly traded, growth-oriented master limited partnership that owns and operates midstream fuel processing and logistics assets, including five wood pellet production plants in the Southeastern U.S. and a dry-bulk, deep-water marine terminal at the Port of Chesapeake, Virginia. In addition to this Mid-Atlantic terminal, Enviva Partners maintains export terminal operations at a third-party terminal in each of Mobile, Alabama and Panama City, Florida. Our customers use our product in place of coal as one of the most cost-effective means of generating renewable energy, reducing their greenhouse gas emissions by up to 80 percent. At Enviva, we work for lower emissions, healthy forests, and strong communities. To learn more about Enviva Partners, please visit our website at www.envivapartners.com.
Cautionary Note Concerning Forward-Looking Statements
Certain statements and information in this press release, including those concerning our future results of operations, acquisition opportunities, and distributions, may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on the Partnership’s current expectations and beliefs concerning future developments and their potential effect on the Partnership. Although management believes that these forward-looking statements are reasonable when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. The forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and its present expectations or projections. Important factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to: (i) the amount of products that the Partnership is able to produce, which could be adversely affected by, among other things, operating difficulties; (ii) the volume of products that the Partnership is able to sell; (iii) the price at which the Partnership is able to sell products; (iv) changes in the price and availability of natural gas, coal, or other sources of energy; (v) changes in prevailing economic conditions; (vi) the Partnership’s ability to complete acquisitions, including acquisitions from its sponsor; (vii) unanticipated ground, grade, or water conditions; (viii) inclement or hazardous weather conditions, including extreme precipitation, temperatures, and flooding; (ix) environmental hazards; (x) fires, explosions, or other accidents; (xi) changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, or power generators; (xii) inability to acquire or maintain necessary permits; (xiii) inability to obtain necessary production equipment or replacement parts; (xiv) technical difficulties or failures; (xv) labor disputes; (xvi) late delivery of raw materials; (xvii) inability of the Partnership’s customers to take delivery or their rejection of a delivery of products; (xviii) changes in the price and availability of transportation; and (xix) the Partnership’s ability to borrow funds and access capital markets.
For additional information regarding known material factors that could cause the Partnership’s actual results to differ from projected results, please read its filings with the Securities and Exchange Commission, including the prospectus filed on April 29, 2015 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.