Global Partners LP Declares Q4 2024 Cash Distribution of $0.7400 per Unit

Global Partners LP Announces Cash Distribution for Q4 2024

Global Partners LP, a prominent integrated owner and operator in the liquid energy sector, reveals a cash distribution of $0.7400 per common unit for the fourth quarter of 2024. This distribution, which equates to an annualized rate of $2.96 per unit, reflects the company's ongoing commitment to delivering value to its unitholders. Scheduled for payment on February 14, 2025, the distribution will benefit those recorded as unitholders by February 10, 2025. This announcement underscores Global Partners' stability and reliability as a master limited partnership in the energy market, particularly in an era where energy companies are facing myriad challenges and transitions.

In conjunction with the cash distribution announcement, Global Partners LP has issued a qualified notice to brokers and nominees regarding tax withholding obligations for non-U.S. investors. The distributions will be categorized as income effectively connected with a U.S. trade or business, necessitating federal income tax withholding at the highest applicable rate, along with an additional 10%. This provision is crucial for non-U.S. investors, as it clarifies their tax responsibilities and ensures compliance with U.S. tax regulations, providing transparency in the distribution process.

Global Partners LP boasts a rich legacy of over 90 years in the energy sector, operating or managing dedicated storage across 54 liquid energy terminals from Maine to Florida and into the Gulf States. The company distributes a variety of fuels, including gasoline, distillates, residual oil, and renewable fuels. With over 1,700 retail locations, Global Partners not only feeds the energy needs of customers across the Northeast, Mid-Atlantic, and Texas but also emphasizes a customer-focused retail experience. Recognized as one of Fortune’s Most Admired Companies, Global Partners continues to adapt to the evolving energy landscape while maintaining its operational integrity and commitment to service excellence.

In a rapidly changing energy environment, Global Partners LP remains focused on its core operations and strategic growth. The company is actively engaged in addressing the challenges presented by the energy transition, ensuring it stays relevant and competitive. As it prepares for future developments, Global Partners emphasizes its dedication to providing essential services and sustainable solutions within the liquid energy market, reaffirming its position as a leader in the industry.