Calumet Specialty Products Partners, L.P. Declares Increased Distribution on Limited Partner Units and Schedules Third Quarter 2012 Earnings Release
INDIANAPOLIS, Oct. 16, 2012 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (CLMT) ("Partnership" or "Calumet") today announced an increase in its quarterly cash distribution to $0.62 per unit ($2.48 per unit on an annualized basis) for the quarter ended September 30, 2012 on all of its outstanding limited partner units. The distribution will be paid on November 14, 2012 to holders of record of such units at the close of business on November 2, 2012. This distribution represents an increase of 5.1% over the quarterly distribution of $0.59 per unit ($2.36 per unit on an annualized basis) paid in August 2012 for the second quarter of 2012 and a 24.0% increase over the third quarter of 2011.
In addition, the Partnership will report earnings for the third quarter of 2012 on Wednesday, October 31, 2012 before the market opens.
A conference call is scheduled for 1:00 p.m. ET (12:00 p.m. CT) Wednesday, October 31, 2012 to discuss the financial and operational results for the third quarter of 2012. Anyone interested in listening to the presentation may call 1-866-543-6408 and enter passcode 22754984. For international callers, the dial-in number is 1-617-213-8899 and the passcode is 22754984.
The telephonic replay is available in the United States by calling 1-888-286-8010 and entering passcode 95789452. International callers can access the replay by calling 1-617-801-6888 and entering passcode 95789452. The replay will be available beginning Wednesday, October 31, 2012, at approximately 3:00 p.m. ET until Wednesday, November 7, 2012.
A webcast of the earnings call will be available on the Partnership's website at http://www.calumetspecialty.com.
Calumet is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet is based in Indianapolis, Indiana and has ten facilities located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, southeastern Texas and eastern Missouri. This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Factors that can affect future results are discussed in Calumet's Annual Report on Form 10-K and other reports filed by Calumet from time to time with the Securities and Exchange Commission. Calumet undertakes no obligation to update or revise any forward-looking statement to reflect new information or events. This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Calumet's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Calumet's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
SOURCE Calumet Specialty Products Partners, L.P.