HOUSTON–(BUSINESS WIRE)–Genesis Energy, L.P. (NYSE: GEL) announced today that it will pay a regular quarterly distribution of $0.7225 per Common Unit for the quarter ended June 30, 2017. The distribution will be paid on August 14, 2017, to Common Unitholders of record at the close of business on July 31, 2017. This is the forty-eighth consecutive quarter in which Genesis has increased its quarterly distribution.
Genesis also announced that beginning with the second quarter earnings release and 10-Q filing, it will change the name of its Supply and Logistics Segment to Onshore Facilities and Transportation Segment. Genesis believes this new segment name more accurately reflects the physical logistical services it provides its producer and refinery customers through its onshore terminals and multi-modal transportation assets.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, refinery services, marine transportation and onshore facilities and transportation (formerly known as supply and logistics). Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and the Gulf of Mexico.