Green Plains Partners LP (GPP) Lowers Quarterly Dividend 74.7% to $0.12; 8.6% Yield

Green Plains Partners LP (NASDAQ: GPP) declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 74.7% decrease from the prior dividend of $0.475. The dividend will be payable on May 8, 2020, to stockholders of record on May 1, 2020, with an ex-dividend date of April 30, 2020. The annual yield on the dividend is 8.6 percent.

“We believe this decision by our board of directors will strengthen our balance sheet for the benefit of all stakeholders and create long term value for our unit holders,” said Todd Becker, president and chief executive officer of Green Plains Partners. “We are currently working with our existing lender group to extend our credit line which will likely include a change to overall commitment levels and pricing, as well as require principal amortization as part of the transaction. Our goal is to pay off the debt within the next 18 months through this distribution reduction and other actions.”

For a dividend history and other dividend-related data on Green Plains Partners LP (GPP) click here.

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