Genesis Energy (GEL) Confirms Guidance; to Reallocate Capital
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Genesis Energy, L.P. Confirms Previous Financial Guidance and Plans to Further Enhance Its Balance Sheet and Financial Flexibility by Reallocating Capital
October 12, 2017 6:00 AM EDTHOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE: GEL) announced today that it has completed a review of its previously disclosed financial guidance and an analysis of alternative allocations of capital in future periods.
Noting that the partnerships businesses continue to perform in line with expectations and the recently acquired alkali business is outperforming expectations, the partnership is announcing the following strategic steps:
Declaring a quarterly distribution of $0.50 per Common Unit for the quarter ended September 30, 2017, to be paid on November 14, 2017 to unitholders of record at the close of business on October 31,... More