Genesis Energy, L.P. Increases Quarterly Distribution

Genesis Energy, L.P. (NYSE: GEL) announced today that it will pay a regular quarterly distribution of $0.4725 per Common Unit for the quarter ended September 30, 2012. The distribution will be paid on November 14, 2012, to Common Unitholders of record at the close of business on November 1, 2012. This distribution represents an increase of approximately 10.5% over the third quarter 2011 quarterly distribution of $0.4275 per unit, and an approximate 2.7% increase over the distribution paid with respect to the second quarter of 2012. This is the twenty-ninth consecutive quarter in which Genesis has increased its quarterly distribution. During this period, twenty-four of those quarterly increases have been 10% or greater year-over-year.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include pipeline transportation, refinery services and supply and logistics. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations. The Supply and Logistics Division is engaged in the transportation, storage and supply and marketing of energy products, including crude oil, refined products, and certain industrial gases. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and the Gulf of Mexico.

Copyright Business Wire 2010

If you liked this article you might like

How Investors Can Generate Yields from MLPs

Ex-Dividends To Watch: 3 Stocks Going Ex-Dividend Tomorrow: CRT, TOO, GEL

Genesis Energy (GEL) Trading With Heavy Volume Before Market Open

3 Buy-Rated Dividend Stocks To Check Out: GEL, PBA, MMP

3 Hold-Rated Dividend Stocks: DFT, GEL, KKR