NGL Energy Partners LP (NYSE: NGL) announced today that the board of directors of its general partner has approved a quarterly cash distribution of $.4125 per unit ($1.65 on an annualized basis) for the quarter ended June 30, 2012. The cash distribution will be paid August 14, 2012, to unitholders of record as of the close of business on August 3, 2012. This distribution represents a 13.8% increase over the quarterly distribution of $.3625 per unit ($1.45 on an annualized basis) paid in May 2012 for the quarter ended March 31, 2012.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with four operating segments: water treatment, midstream, wholesale supply and marketing and retail propane and heating oil. NGL completed its initial public offering in May 2011. For further information, please visit NGL’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.The information contained in this press release is available on NGL’s website at www.nglenergypartners.com.