Global Partners LP (NYSE: GLP) has declared a quarterly cash distribution of $0.59375 per unit ($2.375 per unit on an annualized basis) on its 9.50% fixed-rate Series B preferred units for the period from May 15, 2024, through August 14, 2024. This marks a change from the previous period, indicating the company's commitment to consistent returns for its investors.
Global Partners LP operates or maintains dedicated storage at 53 liquid energy terminals, with connectivity to strategic rail, pipeline, and marine assets, spanning from Maine to Florida and into the U.S. Gulf states. This extensive network allows the company to distribute gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. Additionally, the company owns, supplies, and operates more than 1,700 retail locations across 12 Northeast states, the Mid-Atlantic, and Texas, providing the fuels people need at unique guest-focused convenience destinations.
The company's commitment to growth and diversification is evident as it continues to evolve into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences.
As of July 15, 2024, Global Partners LP trades on the New York Stock Exchange under the ticker symbol "GLP" and is recognized as one of Fortune's most admired companies. For additional information, interested parties can visit www.globalp.com. Following these announcements, the company's shares moved -5.6%, and are now trading at a price of $40.25. For more information, read the company's full 8-K submission here.
