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Gold/Mining/Energy : NGL to da moon (well, maybe to $10?)!!

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From: Elroy2/6/2024 10:18:40 PM
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TULSA, Okla., February 06, 2024--( BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL or the "Partnership") announced today that the Board of Directors of its general partner declared a distribution of 50% of the arrearages earned and outstanding through December 31, 2023 to be paid to the holders of the Partnership’s 12.806% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class B Preferred Units") and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class C Preferred Units") in accordance with the terms outlined in NGL’s partnership agreement. Each holder of the Class B Preferred Units will receive $4.4439 per unit and each holder of the Class C Preferred Units will receive $4.0746 per unit on February 27, 2024, which payments will be made to holders of record at the close of trading on February 16, 2024.

Additionally, the Board of Directors declared a cash distribution in the amount of $115,035,820.87, which represents 50% of the arrearages earned on the Class D preferred units through December 31, 2023. The Class D Preferred distribution payments will also be made on February 27, 2024.
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