USD Partners LP (USDP) Lowers Quarterly Dividend 70% to $0.111; 17.8% Yield

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Go back to USD Partners LP (USDP) Lowers Quarterly Dividend 70% to $0.111; 17.8% Yield

USD Partners Announces Reduction of Quarterly Distribution as Prudent Measure to Reduce Debt and Releases First Quarter 2020 Earnings Date

April 23, 2020 4:31 PM EDT

HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the Partnership) announced today that the Board of Directors of its general partner has declared a quarterly cash distribution of $0.111 per unit for the first quarter of 2020 ($0.444 per unit on an annualized basis), representing a 70% decrease from the prior quarters distribution. The distribution is payable on May 15, 2020, to unitholders of record at the close of business on May 5, 2020.

The Board has made a proactive decision to strengthen our financial position by reducing our quarterly distribution and redeploying certain free cash flow to opportunistically pay down... More