HOUSTON -- Genesis Energy LP (NYSE: GEL) announced on Jan. 11 that it will pay a regular quarterly distribution of $0.44 per Common Unit for the quarter ended December 31, 2011. The distribution will be paid on February 14, 2012, to Common Unitholders of record at the close of business on February 1, 2012.
This distribution represents an increase of approximately 10.2% over the fourth quarter 2010 quarterly distribution of $0.395 per unit, and an approximate 3.0% increase over the distribution paid with respect to the third quarter of 2011. This is the twenty-sixth consecutive quarter in which Genesis has increased its quarterly distribution. During this period, twenty-one of those quarterly increases have been 10% or greater year-over-year.
Genesis Energy is a diversified midstream energy master limited partnership headquartered in Houston. Genesis’ operations include pipeline transportation, refinery services and supply and logistics. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations, principally located in Texas, Louisiana, and Arkansas. The Supply and Logistics Division is engaged in the transportation, storage and supply and marketing of energy products, including crude oil, refined products, and certain industrial gases. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and the Gulf of Mexico.
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