Global Partners Continues Strong Performance with Cash Distribution on Series B Preferred Units
Global Partners LP (NYSE: GLP) has once again demonstrated its commitment to providing value to investors with the announcement of a quarterly cash distribution on its 9.50% fixed-rate Series B preferred units.The Board of Directors of Global GP LLC declared a distribution of $0.59375 per unit ($2.375 per unit annualized), covering the period from May 15, 2024 through August 14, 2024.This distribution will be paid out on August 15, 2024 to Series B preferred unitholders of record.
This announcement comes on the heels of Global Partners LP’s impressive performance in the energy sector.Despite a recent drop in shares, the company has seen a significant improvement over the past year, with shares up 46.1%. In fact, Global Partners LP shares are currently trading on the NYSE at a 13.2% premium to their 52-week average.
With a track record of strong Stock Global Partners LP stands out in the energy sector as a reliable investment option.Investors can look forward to continued growth and value creation from this leading energy company.
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