NuStar Energy L.P. Declares First Quarter 2020 Unit Distributions
Nustar Energy L.P. Common Units (NS)
Last nustar energy l.p. common units earnings: 2/5 06:45 am
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US:NYSE Investor Relations:
investor.nustarenergy.com/phoenix.zhtml?c=123440&p=irol-irhome_pf
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Source: Business Wire
Affirms Reductions in SpendingTo Announce First Quarter 2020 Earnings Results on May 5, 2020 SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) announced that its Board of Directors declared a first quarter 2020 common unit distribution of $0.40 per unit, which is a 33 percent reduction from last quarter’s distribution. This reduction is expected to preserve approximately $88 million per year to support NuStar’s balance sheet. The first quarter common unit distribution will be paid on May 15, 2020 to holders of record as of May 11, 2020.“The change in our distribution policy is the most recent of several actions we have taken to preserve cash and strengthen our balance sheet in light of the many challenges resulting from the COVID-19 pandemic. We have also entered into a $750 million loan facility to pay down our revolver, bolster our liquidity and address our near-term debt maturities and made significant cuts to our 2020 CAPEX and other controllable expenses to help us w
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