Genesis Energy LP (GEL)

[Timothy Smith]

Market gave a 3% kicker today. I likkke that!

Genesis Energy, L.P. Increases Quarterly Distribution

Jul 9, 2012 6:10:00 AM

HOUSTON--(BUSINESS WIRE)-- Genesis Energy, L.P. (NYSE:GEL) announced today that it will pay a regular quarterly distribution of $0.46 per Common Unit for the quarter ended June 30, 2012. The distribution will be paid on August 14, 2012, to Common Unitholders of record at the close of business on August 1, 2012. This distribution represents an increase of approximately 10.8% over the second quarter 2011 quarterly distribution of $0.415 per unit, and an approximate 2.2% increase over the distribution paid with respect to the first quarter of 2012. This is the twenty-eighth consecutive quarter in which Genesis has increased its quarterly distribution. During this period, twenty-three of those quarterly increases have been 10% or greater year-over-year.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. 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. 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.