Rentech Nitrogen Partners, L.P. (NYSE: RNF) announced today the declaration of a cash distribution of $1.17 per common unit for the second quarter of 2012. The distribution is payable on August 14, 2012 to holders of record as of August 7, 2012.
This will be the second cash distribution paid by Rentech Nitrogen since its initial public offering (IPO) in November 2011, and will result in cumulative cash distributions since the IPO of $2.23 per common unit. Of that amount, $1.70 relates to the twelve months ending December 31, 2012, and $0.53 relates to the period from the IPO through December 31, 2011.
Rentech Nitrogen believes that it is well positioned to exceed its forecast of cash available for distribution in the range of $2.86 per common unit for the twelve months ending December 31, 2012 (as described in its press release dated May 11, 2012). The Partnership will provide details on its guidance during its previously announced conference call to discuss financial results for its 2012 second quarter, ended June 30, 2012.
The 2012 second quarter conference call will be held on Friday, August 10, 2012 at 10:00 a.m. PDT. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing 800-897-4057 or 212-231-2922. An audio webcast of the call will be available at www.rentechnitrogen.com within the Investor Relations portion of the site under the Presentations section. A replay will be available by audio webcast and teleconference from 12:00 p.m. PDT on August 10 through 12:00 p.m. PDT on August 17. The replay teleconference will be available by dialing 800-633-8284 or 402-977-9140 and the reservation number 21598511.This release is intended to serve as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of Rentech Nitrogen’s distributions to foreign investors is attributable to income that is effectively connected with a United States trade or business. Accordingly, Rentech Nitrogen’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.