Green Plains Partners ups investor distribution as income climbs

April 23, 2017 |

In Nebraska, Green Plains Partners declared a quarterly cash distribution of $0.44 per unit on all of its outstanding common and subordinated units, or $1.76 per unit on an annualized basis, for the first quarter of 2017. The 1.0-cent increase over the previous quarterly distribution of $0.43 per unit is the sixth consecutive increase since the partnership’s IPO. The distribution is payable on May 15, 2017, to unitholders of record at the close of business on May 5, 2017.

For Q4 2016, Green Plains Partners reported net income was $16.4 million, or $0.50 per common unit. The partnership reported adjusted EBITDA of $19.0 million and distributable cash flow of $17.8 million, indicating a 1.27x coverage ratio of the fourth quarter distribution.

For Q4 2016, Green Plains recorded net income of $18.7 million, or $0.47 per diluted share, for the fourth quarter of 2016 compared with net loss of $(3.6) million, or $(0.09) per diluted share, for the same period in 2015. Revenues were $932.1 million for the fourth quarter of 2016 compared with $739.9 million for the same period last year.

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