NGL Energy Partners increases quarterly payout
BY ROD WALTON World Staff Writer
Friday, January 25, 2013
NGL Energy Partners LP’s board of directors raised its quarterly cash distribution to 46.25 cents per unit, the Tulsa-based propane and crude oil distributor announced Friday.
The distribution for the third fiscal quarter ending Dec. 31 is 1.25 cents higher than the payout for the previous quarter. The payment will be made Feb. 14 to unitholders of record at Feb. 4’s close of business.
NGL Energy Partners, founded in 2010 and taken public a year later, owns and operates wholesale and retail propane storage and distribution assets, crude oil logistics and water treatment services nationwide.