Genesis Energy, L.P. (GEL) said Wednesday that it will pay a regular quarterly distribution of $0.4975 per common unit for the quarter ended March 31, 2013.
The distribution will be paid on May 15 to common unitholders of record on May 1.
This distribution represents an increase of about 10.6% over the first quarter 2012 quarterly distribution of $0.45 per unit, and an about 2.6% increase over the distribution paid with respect to the fourth quarter of 2012.
This is the thirty-first consecutive quarter in which Genesis has increased its quarterly distribution. During that period, twenty-six of those quarterly increases have been 10% or greater year-over-year, Genesis Energy noted.
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