CrossAmerica Partners declares $0.5250 distribution for Q3 2024
- The Board of Directors approved a quarterly distribution of $0.5250 per unit for Q3 2024.
- The distribution will be paid on November 13, 2024, to those recorded by November 4.
- This decision reflects CrossAmerica's commitment to maintaining shareholder value and indicates stability within the competitive energy market.
On October 23, 2024, CrossAmerica Partners LP announced its Board of Directors approved a quarterly distribution of $0.5250 per unit for the third quarter of 2024. This distribution is set to be paid on November 13, 2024, to unitholders recorded on November 4, 2024. The annualized distribution rate is approximately $2.10 per unit. The company will also hold a conference call on November 7, 2024, at 9:00 a.m. Eastern Time to discuss the earnings results for the third quarter. CrossAmerica Partners GP LLC is indirectly owned by Joseph V. Topper, Jr., who has been affiliated with the company since 2012. The partnership has established connections with significant oil brands such as ExxonMobil, BP, and Shell, and is among the top distributors by fuel volume in the U.S. This extensive geographical presence spans 34 states, showcasing their operational capability within the competitive energy market. The distribution announcement aligns with the typical financial calendar of partnerships in the energy sector, where regular distributions are essential to maintaining investor confidence and engagement. However, CrossAmerica also cautions investors that forward-looking statements could vary from actual results due to market fluctuations and other risk factors. As one of the major players in the oil distribution industry, the Partnership’s continued commitment to its quarterly distributions indicates stability and aims to enhance shareholder value amidst a dynamic market landscape.