CrossAmerica Partners LP Maintains Quarterly Distribution

Rhea-AI Summary

CrossAmerica Partners LP (NYSE: CAPL) has announced the maintenance of its quarterly distribution at $0.5250 per unit for the fourth quarter of 2024, equivalent to an annualized distribution of $2.10 per unit. The distribution will be paid on February 13, 2025, to unitholders of record as of February 3, 2025.

The company has scheduled a conference call for February 27th at 9:00 a.m. Eastern Time to discuss their fourth quarter and full year 2024 earnings results, which will be released after market close on February 26.

Positive

• Maintained stable quarterly distribution of $0.5250 per unit
• Annualized distribution of $2.10 per unit indicates consistent income for unitholders

Negative

• None.

Insights

Income Investment Analyst

CrossAmerica Partners LP's decision to maintain its quarterly distribution at $0.5250 per unit ($2.10 annualized) signals operational stability in their business model. At the current market capitalization of $845.3 million, this distribution represents an approximate 9.9% annual yield, positioning CAPL as an attractive option in the high-yield MLP space.

The consistency in distribution policy is particularly noteworthy in the current market environment where many energy-related MLPs have faced pressure to modify their distribution strategies. The maintained payout suggests that CrossAmerica's management remains confident in their ability to generate sufficient distributable cash flow to support the current distribution level.

For investors' planning purposes, the distribution will be payable on February 13, 2025, with a record date of February 3, 2025. The upcoming earnings release scheduled for February 26 will be important for investors to assess the distribution coverage ratio and sustainability of the current payout level.

•Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2024

Allentown, PA, Jan. 22, 2025 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Maintains Quarterly Distribution

• Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2024
  
  

ALLENTOWN, PA (January 22, 2025) – CrossAmerica Partners LP (NYSE: CAPL) announced today that the Board of Directors of its general partner has approved a quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2024 (annualized $2.10 per unit). The distribution attributable to the fourth quarter is payable on February 13, 2025, to all unitholders of record on February 3, 2025.

CrossAmerica will host a conference call on February 27^th at 9:00 a.m. Eastern Time to discuss fourth quarter/full year 2024 earnings results, which will be released after the market closes on Wednesday, February 26.

About CrossAmerica Partners LP

CrossAmerica Partners is a leading wholesale distributor of motor fuels, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners and a member of the board of the general partner since 2012. Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,600 locations and owns or leases approximately 1,100 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, Phillips 66 and other major brands. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com.

Forward Looking Statement

Statements contained in this release that state the Partnership’s or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "estimates," "target," "plan" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica's Forms 10-Q or Form 10-K filed with the Securities and Exchange Commission and available on CrossAmerica's website at www.crossamericapartners.com. The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4. Brokers and nominees should treat one hundred percent (100%) of CrossAmerica Partners LP’s distributions to non-U.S. investors as attributable to income that is effectively connected with a United States trade or business. Accordingly, CrossAmerica Partners LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contact – Randy Palmer, rpalmer@caplp.com or 610-625-8000

FAQ

What is CrossAmerica Partners LP's (CAPL) quarterly distribution for Q4 2024?

CrossAmerica Partners LP's quarterly distribution for Q4 2024 is $0.5250 per unit, equivalent to an annualized distribution of $2.10 per unit.

When will CAPL pay its Q4 2024 distribution?

CAPL will pay its Q4 2024 distribution on February 13, 2025, to unitholders of record as of February 3, 2025.

When will CAPL release its Q4 2024 earnings results?

CAPL will release its Q4 2024 earnings results after market close on Wednesday, February 26, 2025.

When is CAPL's Q4 2024 earnings conference call?

CAPL's Q4 2024 earnings conference call is scheduled for February 27, 2025, at 9:00 a.m. Eastern Time.