USD Partners Announces Quarterly Distribution Increase and its First Quarter 2022 Earnings Release Date
April 21 2022 - 4:22PM
Business Wire
USD Partners LP (NYSE: USDP) (the “Partnership”) announced today
that the Board of Directors of its general partner declared a
quarterly cash distribution of $0.1235 per unit for the first
quarter of 2022 ($0.494 per unit on an annualized basis),
representing an increase of $0.0025 per unit, or 2.1% over the
distribution declared for the fourth quarter of 2021. The quarterly
increase is in-line with management’s previously stated guidance.
The distribution is payable on May 13, 2022, to unitholders of
record at the close of business on May 4, 2022.
First Quarter 2022 Earnings Release Date and Conference Call
Information
The Partnership plans to report first quarter 2022 financial and
operating results after market close on Wednesday, May 4, 2022. The
Partnership will host a conference call and webcast regarding first
quarter 2022 results at 11:00 a.m. Eastern Time (10:00 a.m. Central
Time) on Thursday, May 5, 2022.
To listen live over the Internet, participants are advised to
log on to the Partnership’s website at www.usdpartners.com and
select the “Events & Presentations” sub-tab under the
“Investors” tab. To join via telephone, participants may dial (866)
518-6930 domestically or +1 (203) 518-9797 internationally,
conference ID 9626417. Participants are advised to dial in at least
five minutes prior to the call.
An audio replay of the conference call will be available for
thirty days by dialing (888) 269-5319 domestically or +1 (402)
220-7322 internationally, conference ID 9626417. In addition, a
replay of the audio webcast will be available by accessing the
Partnership's website after the call is concluded.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited
partnership formed in 2014 by US Development Group, LLC (“USD”) to
acquire, develop and operate midstream infrastructure and
complementary logistics solutions for crude oil, biofuels and other
energy-related products. The Partnership generates substantially
all of its operating cash flows from multi-year, take-or-pay
contracts with primarily investment grade customers, including
major integrated oil companies and refiners. The Partnership’s
principal assets include a network of crude oil terminals that
facilitate the transportation of heavy crude oil from Western
Canada to key demand centers across North America. The
Partnership’s operations include railcar loading and unloading,
storage and blending in on-site tanks, inbound and outbound
pipeline connectivity, truck transloading, as well as other related
logistics services. In addition, the Partnership provides customers
with leased railcars and fleet services to facilitate the
transportation of liquid hydrocarbons and biofuels by rail.
USD, which owns the general partner of USD Partners LP, is
engaged in designing, developing, owning, and managing large-scale
multi-modal logistics centers and energy-related infrastructure
across North America. USD’s solutions create flexible market access
for customers in significant growth areas and key demand centers,
including Western Canada, the U.S. Gulf Coast and Mexico. Among
other projects, USD is currently pursuing the development of a
premier energy logistics terminal on the Houston Ship Channel with
capacity for substantial tank storage, multiple docks (including
barge and deepwater), inbound and outbound pipeline connectivity,
as well as a rail terminal with unit train capabilities. For
additional information, please visit texasdeepwater.com.
Information on websites referenced in this release is not part of
this release.
Qualified Notice to Nominees
This release serves as qualified notice to nominees as provided
for under Treasury Regulation Section 1.1446-4(b)(4) and (d).
Please note that we believe that 100 percent of the Partnership’s
distributions to foreign investors are attributable to income that
is effectively connected with a United States trade or business.
Accordingly, all of the Partnership’s distributions to foreign
investors are subject to federal income tax withholding at the
highest effective tax rate for individuals or corporations, as
applicable. Nominees, and not the Partnership, are treated as
withholding agents responsible for withholding distributions
received by them on behalf of foreign investors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws, including statements
with respect to the amount and timing of the Partnership’s first
quarter 2022 cash distribution and the business prospects of the
Partnership and USD. Words and phrases such as “plans,” “expects,”
“will,” “progressing on,” “pursuing,” and similar expressions are
used to identify such forward-looking statements. However, the
absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements relating to the
Partnership are based on management’s expectations, estimates and
projections about the Partnership, its interests, USD’s projects
and the energy industry in general on the date this press release
was issued. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. The current economic
downturn (including the effects of the ongoing situation in Ukraine
and its regional and global ramifications) and pandemic introduces
unusual risks and an inability to predict all risks that may impact
the Partnership’s business and outlook. Therefore, actual outcomes
and results may differ materially from what is expressed or
forecast in such forward-looking statements. Factors that could
cause actual results or events to differ materially from those
described in the forward-looking statements include those as set
forth under the heading “Risk Factors” in the Partnership’s most
recent Annual Report on Form 10-K and in its subsequent filings
with the Securities and Exchange Commission. The Partnership is
under no obligation (and expressly disclaims any such obligation)
to update or alter its forward-looking statements, whether as a
result of new information, future events or otherwise.
Category: Earnings
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version on businesswire.com: https://www.businesswire.com/news/home/20220421005841/en/
Investor Relations Contacts:
Adam Altsuler, (281) 291-3995 Executive Vice President and Chief
Financial Officer
Jennifer Waller, (832) 991-8383 Senior Director, Financial
Reporting and Investor Relations
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