Arc Logistics Partners LP Announces Initial Pro Rata Distribution for the Fourth Quarter 2013
NEW YORK, NY, January 31, 2014 (GLOBE NEWSWIRE)–Arc Logistics Partners LP (“Arc Logistics” or the “Partnership”), a Delaware limited partnership (NYSE: ARCX), announced today that the board of directors of its general partner declared a pro rata cash distribution of $0.2064 per unit ($1.55 per unit on an annualized basis) for the period November 13, 2013 through December 31, 2013, reflecting the period following the completion of its initial public offering through the end of the fourth quarter. The distribution is payable on February 18, 2014 to unitholders of record on February 10, 2014.
About Arc Logistics Partners LP
Arc Logistics is a fee-based, growth-oriented limited partnership that owns, operates, develops and acquires a diversified portfolio of complementary energy logistics assets. Arc Logistics is principally engaged in the terminalling, storage, throughput and transloading of crude oil and petroleum products. For more information please visit www.arcxlp.com.
Forward Looking Statements
Certain statements and information in this press release may constitute “forward-looking statements.” Certain expressions including “believe,” “expect,” or other similar expressions are intended to identify the Partnership’s current expectations, opinions, views or beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. The forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and its present expectations or projections. Important factors that could cause actual results to differ from forward looking statements include but are not limited to: (i) adverse economic, capital markets and political conditions; (ii) changes in the market place for the Partnership’s products and services; (iii) changes in supply and demand of crude oil and petroleum products; (iv) actions and performance of the Partnership’s customers, vendors or competitors; (v) changes in the cost of or availability of capital; (vi) unanticipated capital expenditures in connection with the construction, repair, or replacement of the Partnership’s assets; (vii) operating hazards, unforeseen weather events or matters beyond the Partnership’s control; (viii) effects of future laws or governmental regulations; and (ix) litigation. For additional information regarding known material factors that could cause the Partnership’s actual results to differ from projected results, please see “Risk Factors” in the prospectus filed on November 7, 2013 with the SEC and subsequent SEC filings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of Arc Logistics’ distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Arc Logistics’ distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.