Global Partners LP Announces $0.59375 Cash Distribution

By Bobby Samwell • Monday, January 13 10:26 • Permanent Link

Global Partners LP (NYSE: GLP) has announced a 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. This distribution is for the period from November 15, 2024, through February 14, 2025, and will be paid on February 18, 2025, to Series B preferred unitholders of record as of the opening of business on February 3, 2025.

Global Partners LP, a Fortune 500 company, has evolved into an industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. The company operates or maintains dedicated storage at 54 liquid energy terminals, with connectivity to strategic rail, pipeline, and marine assets, spanning from Maine to Florida and into the U.S. Gulf states. Additionally, it owns, operates, and/or supplies more than 1,700 retail locations across the Northeast states, the Mid-Atlantic, and Texas.

The company's extensive network allows it to distribute gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. Global Partners LP is recognized as one of Fortune's most admired companies and is embracing progress and diversifying to meet the needs of the energy transition. As a master limited partnership, it trades on the New York Stock Exchange under the ticker symbol “GLP.”

For the previous period, the cash distribution on the Series B preferred units was $0.59375 per unit ($2.375 per unit on an annualized basis). This represents no change in the distribution amount from the previous period, indicating stability in the cash distribution to Series B preferred unitholders.

Global Partners LP's extensive network of liquid energy terminals, fueling locations, and retail experiences has remained consistent from the previous period, with 54 liquid energy terminals and over 1,700 retail locations across various U.S. regions.

The market has reacted to these announcements by moving the company's shares 1.2% to a price of $47.29. If you want to know more, read the company's complete 8-K report here.

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