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 third quarter of 2024, equivalent to an annualized distribution of $2.10 per unit. The distribution will be paid on November 13, 2024, to unitholders of record as of November 4, 2024. The company will discuss its Q3 2024 earnings results in a conference call scheduled for November 7th at 9:00 a.m. Eastern Time, following the earnings release after market close on November 6.

Positive

• Maintained stable quarterly distribution of $0.5250 per unit
• Annualized distribution remains steady at $2.10 per unit

Negative

• None.

Insights

Financial Analyst

CrossAmerica Partners LP's maintained quarterly distribution of $0.5250 per unit ($2.10 annualized) signals stability in their distribution policy. The consistent payout reflects steady operational performance, though without growth. At current distribution levels, this master partnership continues its commitment to unitholder returns. However, investors should note that maintaining rather than increasing distributions suggests near-term growth prospects. The upcoming earnings call will be important for understanding the sustainability of these distributions and the partnership's overall financial health.

Allentown, PA, Oct. 23, 2024 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Maintains Quarterly Distribution

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

ALLENTOWN, PA (October 23, 2024) – 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 third quarter of 2024 (annualized $2.10 per unit). The distribution attributable to the third quarter is payable on November 13, 2024 to all unitholders of record on November 4, 2024.

CrossAmerica will host a conference call on November 7^th at 9:00 a.m. Eastern Time to discuss third quarter 2024 earnings results, which will be released after the market closes on Wednesday, November 6.

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) Q3 2024 distribution amount?

CrossAmerica Partners LP's distribution for Q3 2024 is $0.5250 per unit, which equals an annualized distribution of $2.10 per unit.

When will CAPL pay its Q3 2024 distribution?

The Q3 2024 distribution will be paid on November 13, 2024, to unitholders of record as of November 4, 2024.

When will CrossAmerica Partners (CAPL) release its Q3 2024 earnings?

CrossAmerica Partners will release its Q3 2024 earnings after market close on Wednesday, November 6, 2024, with a conference call scheduled for November 7th at 9:00 a.m. Eastern Time.