CrossAmerica Partners LP: Declares 9th Consecutive Quarterly Distribution Increase
(Thomson Reuters ONE) -
CrossAmerica Partners LP Declares 9(th) Consecutive Quarterly Distribution
Increase
* Quarterly distribution of $0.6025 per unit attributable to the second
quarter of 2016
* Increase results in growth of 7.1% in distributions per unit attributable to
the second quarter of 2016 compared to the second quarter of 2015
ALLENTOWN, PA (July 28, 2016) - CrossAmerica Partners LP (NYSE: CAPL) announced
today that the Board of Directors of its general partner has approved a
quarterly distribution of $0.6025 per unit attributable to the second quarter of
2016 (annualized $2.41 per unit), representing a 0.8% increase in the
Partnership's cash distribution per unit from $0.5975 per quarter ($2.39 per
unit annualized) paid with respect to the first quarter of 2016 and a 7.1%
increase compared with the distribution per unit attributable to the second
quarter of 2015. The distribution attributable to the second quarter is payable
on August 15, 2016 to all unitholders of record on August 8, 2016.
CrossAmerica will host a conference call on August 5, 2016 at 9:30 a.m. Eastern
Time (8:30 a.m. Central Time) to discuss second quarter 2016 earnings results,
which will be released before the market opens that day.
About CrossAmerica Partners LP
CrossAmerica Partners is a leading wholesale distributor of motor fuels and
owner and lessee of real estate used in the retail distribution of motor
fuels. Its general partner, CrossAmerica GP LLC, is a wholly owned subsidiary of
CST Brands, Inc., one of the largest independent retailers of motor fuels and
convenience merchandise in North America. Formed in 2012, CrossAmerica Partners
LP is a distributor of branded and unbranded petroleum for motor vehicles in the
United States and distributes fuel to more than 1,250 locations and owns or
leases more than 800 sites. With a geographic footprint covering 29 states, the
Partnership has well-established relationships with several major oil brands,
including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, Citgo and
Marathon. CrossAmerica Partners ranks as one of ExxonMobil's largest
distributors by fuel volume in the United States and in the top 10 for
additional brands. For additional information, please visit
www.crossamericapartners.com.
Safe Harbor Statement
Statements contained in this release that state the Company's or management's
expectations or predictions of the future are forward-looking statements. The
words "believe," "expect," "should," "intends," "estimates," "target," "plan"
and other similar expressions identify forward-looking statements. It is
important to note that actual results could differ materially from those
projected in such forward-looking statements. For more information concerning
factors that could cause actual results to differ from those expressed or
forecasted, see CrossAmerica's Forms 10-Q or Form 10-K filed with the Securities
and Exchange Commission and available on the CrossAmerica's website at
www.crossamericapartners.com. The Partnership undertakes no obligation to
publicly update or revise any statements in this release, whether as a result of
new information, future events or otherwise.
Note to Non-United States Investors: This 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 CrossAmerica Partners LP's
distributions to non-U.S. investors as attributable to income that is
effectively connected with a United States trade or business. Accordingly,
CrossAmerica Partners LP's distributions to non-U.S. investors are subject to
federal income tax withholding at the highest applicable effective tax rate.
Contacts - Karen Yeakel, Investor Relations 610-625-8005 or Randy Palmer,
Investor Relations, 210-692-2160
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: CrossAmerica Partners LP via GlobeNewswire
[HUG#2031809]
Unternehmensinformation / Kurzprofil:
Datum: 29.07.2016 - 01:24 Uhr
Sprache: Deutsch
News-ID 486223
Anzahl Zeichen: 4860
contact information:
Town:
Allentown
Kategorie:
Business News
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