NGL Energy Partners LP (NYSE:NGL) announced today that the board of directors of its general partner has approved a quarterly cash distribution of $.3375 per unit ($1.35 on an annualized basis) for the quarter ended September 30, 2011, payable to unitholders of record as of the close of business on October 31, 2011. The cash distribution will be paid November 14, 2011 on approximately 14.8 million common and subordinated units and the general partner’s 0.1% interest in the Partnership.
About NGL Energy Partners LP
The Partnership owns and operates a vertically integrated energy business with three operating segments: midstream, wholesale supply and marketing 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.