Oiltanking Partners Report Q1 Distribution Increase
Oiltanking Partners, L.P. announced that the board of directors of its general partner declared a cash distribution of $0.495 per unit, or $1.98 per unit on an annualized basis, for the first quarter of 2014.
The first quarter distribution represents a 5.3% increase over the prior quarter distribution of $0.47 per unit and a 22.2% increase over the prior year distribution of $0.405 per unit. The distribution will be paid on May 14, 2014, to unitholders of record on May 2, 2014.
Oiltanking Partners, L.P. is a growth-oriented master limited partnership engaged in independent storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas, providing logistics services to major integrated oil companies, distributors, marketers and chemical and petrochemical companies.