Martin Midstream Partners (MMLP) Lowers Quarterly Dividend 38.5% to $0.50; 9.2% Yield
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Martin Midstream Partners (MMLP) to Divest Corpus Christi Terminalling Assets for Net Proceeds of $93M
October 20, 2016 4:48 PM EDTMartin Midstream Partners L.P. (NASDAQ: MMLP) announced today that it has entered into a definitive agreement with NuStar Logistics, L.P. to sell certain of its terminalling assets located in Corpus Christi, Texas for gross consideration of $107 million plus the reimbursement of certain capital expenditures and prepaid items (the Transaction). The Partnership is selling its 900,000 barrel crude oil storage terminal commonly known as the Corpus Christi crude terminal, its refined product barge terminal, certain pipelines and related easements as well as dockage and trans-loading assets (collectively known as the Assets). MMLP expects to receive net proceeds... More
