TULSA, Okla.--(BUSINESS WIRE)--Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that the Board of Directors of ARLP’s general partner approved an increased cash distribution to its unitholders for the quarter ended June 30, 2018 (the "2018 Quarter").
ARLP unitholders will receive a cash distribution for the 2018 Quarter of $0.52 per unit (an annualized rate of $2.08 per unit), payable on August 14, 2018 to all unitholders of record as of the close of trading on August 7, 2018. The announced distribution represents a 4.0% increase over the cash distribution declared of $0.50 for the quarter ended June 30, 2017 and a 1.0% increase over the cash distribution declared of $0.515 for the quarter ended March 31, 2018.
As previously announced, ARLP will report financial results for the 2018 Quarter before the market opens on Monday, July 30, 2018 and Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.
As a reminder to former common unitholders of Alliance Holdings GP, L.P. (“AHGP”), ARLP and AHGP recently completed the Simplification Transactions pursuant to which AHGP became a wholly owned subsidiary of ARLP and all of the ARLP common units held by AHGP and its subsidiaries were distributed to the unitholders of AHGP in exchange for their AHGP common units. (Please see press release dated May 31, 2018.) As a result of the closing of the Simplification Transactions, AHGP ceased to be a publicly traded company and no further distributions or public announcements with respect to AHGP are expected to be made in the future.
To participate in the conference call, dial (877) 506-1589 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. Canadian callers should dial (855) 669-9657 and all other International callers should dial (412) 317-5240 and request to be connected to the same call. Investors may also listen to the call via the “investor information” section of ARLP’s website at http://www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial US Toll Free (877) 344-7529; International Toll (412) 317-0088; Canada Toll Free (855) 669-9658 and request to be connected to replay access code 10121817.
This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions to foreign investors attributable to gross income, gain or loss that is effectively connected with a United States trade or business. Accordingly, ARLP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable tax rate.
About Alliance Resource Partners, L.P.
ARLP is a diversified producer and marketer of coal to major United States and international utilities and industrial users. ARLP, the nation’s first publicly traded master limited partnership involved in the production and marketing of coal, is currently the second largest coal producer in the eastern United States with mining operations in the Illinois Basin and Appalachian coal producing regions.
ARLP currently operates eight mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia as well as a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP also generates income from a variety of other sources, including investments in oil and gas mineral interests and gas compression services.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission, are available at http://www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7674 or via e-mail at firstname.lastname@example.org.