Global Partners Announces Reduction in Quarterly Distribution for the First Quarter of 2020
Global Partners LP Global Partners LP Common Units representing Limited Partner Interests (GLP)
Last global partners lp global partners lp common units representing limited partner interests earnings: 3/6 08:00 am
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Source: Business Wire
WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) announced today that the Board of Directors of its general partner, Global GP LLC, has declared a quarterly cash distribution of $0.39375 per unit ($1.5750 per unit on an annualized basis) on all of its outstanding common units for the period from January 1 to March 31, 2020. The distribution will be paid on May 15, 2020 to unitholders of record as of the close of business on May 11, 2020. The distribution represents a decrease of 25% from the distribution of $0.5250 paid in February 2020.“During this unprecedented period of disruption and uncertainty surrounding the impacts of the COVID-19 pandemic, Global is actively taking steps to respond to these dynamic conditions,” said Global Partners President and CEO Eric Slifka. “These steps include managing discretionary expenditures and capital spending and introducing numerous enhanced safety and operational measures across our businesses. As always, we are focused on th
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