NGL Energy Partners LP (NYSE: NGL) announced today that the board of directors of its general partner has approved a quarterly cash distribution of $.3625 per unit ($1.45 on an annualized basis) for the quarter ended March 31, 2012. The cash distribution will be paid May 15, 2012, to unitholders of record as of the close of business on April 30, 2012. This distribution represents a 3.6% increase over the quarterly distribution of $.35 per unit ($1.40 on an annualized basis) paid in February 2012 and a 7.4% increase over the distribution declared for the quarter ended September 2011.
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.