Global Partners Stock: Quarterly Distribution Announced for Series B Preferred Units

Global Partners LP (NYSE: GLP) recently declared a quarterly cash distribution of $0.59375 per unit on its 9.50% fixed-rate Series B preferred units. This equates to an annualized distribution of $2.375 per unit. The distribution covers the period from November 15, 2024, to February 14, 2025, and will be paid on February 18, 2025, to unitholders of record as of February 3, 2025. This announcement provides key information for investors tracking Global Partners Stock performance and dividend payouts.

Understanding the Distribution for Global Partners Stock

This distribution announcement is specifically for holders of Global Partners’ Series B preferred units. Preferred stock often carries a fixed dividend rate, as seen in this case with the 9.50% rate. The payment date and record date are crucial for investors to ensure they receive their entitled distribution. Understanding these details is essential for anyone following global partners stock.

Withholding Tax Implications for Non-U.S. Investors in Global Partners Stock

Global Partners also provided important information regarding tax withholding for non-U.S. investors. According to the announcement, 100% of the distribution is considered effectively connected income to a U.S. trade or business. Furthermore, the entire distribution is treated as exceeding cumulative net income for withholding calculations. Consequently, non-U.S. investors should anticipate withholding tax at the highest applicable effective tax rate plus 10%. Nominees holding units on behalf of non-U.S. investors are responsible for this withholding, not Global Partners itself. This information is particularly relevant for international holders of global partners stock.

Overview of Global Partners’ Business Operations

Global Partners is a Fortune 500 company operating in the energy sector. Its business model encompasses the ownership, supply, and operation of liquid energy terminals, fueling stations, and retail locations. With a network of 54 liquid energy terminals strategically connected to rail, pipeline, and marine assets, Global Partners distributes various fuels across the U.S. The company also owns, operates, or supplies over 1,700 retail locations, providing fuel and convenience services to customers. This broad overview provides context for those interested in investing in global partners stock.

Forward-Looking Statements and Investment Considerations for Global Partners Stock

The press release includes forward-looking statements, which by nature involve risks and uncertainties. These statements are based on current expectations and beliefs, but actual results may differ due to various factors. These factors include the pace of economic recovery in the U.S., which directly impacts demand for Global Partners’ products and services. Investors considering global partners stock should carefully review the company’s SEC filings, including its Form 10-K, Form 10-Q, and Form 8-K reports, for a more comprehensive understanding of these risks.

Contact Information for Global Partners

For further inquiries, investors interested in global partners stock can contact:

  • Gregory B. Hanson, Chief Financial Officer, (781) 894-8800
  • Sean T. Geary, Chief Legal Officer and Secretary, (781) 894-8800

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