0001538849-15-000034.txt : 20150826 0001538849-15-000034.hdr.sgml : 20150826 20150826105359 ACCESSION NUMBER: 0001538849-15-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150826 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150826 DATE AS OF CHANGE: 20150826 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CrossAmerica Partners LP CENTRAL INDEX KEY: 0001538849 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172] IRS NUMBER: 454165414 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35711 FILM NUMBER: 151074902 BUSINESS ADDRESS: STREET 1: 645 WEST HAMILTON ST. STREET 2: SUITE 500 CITY: ALLENTOWN STATE: PA ZIP: 18101 BUSINESS PHONE: 610-625-8000 MAIL ADDRESS: STREET 1: 645 WEST HAMILTON ST. STREET 2: SUITE 500 CITY: ALLENTOWN STATE: PA ZIP: 18101 FORMER COMPANY: FORMER CONFORMED NAME: Lehigh Gas Partners LP DATE OF NAME CHANGE: 20120105 8-K 1 capl20152qform8-kdividends.htm 8-K 8-K




UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
 
CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 24, 2015

CrossAmerica Partners LP
(Exact name of registrant as specified in its charter)

Delaware
 
001-35711
 
45-4165414
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)

645 West Hamilton Street, Suite 500
Allentown, PA
 
18101
(Address of principal executive offices)
 
(Zip Code)

Registrant’s telephone number, including area code: (610) 625-8000


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
o
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 7.01     Regulation FD Disclosure
On August 24, 2015, CrossAmerica Partners LP (the “Partnership”) issued a press release announcing that the Board of Directors of its general partner approved a quarterly distribution of $0.5625 per unit attributable to the second quarter of 2015 (annualized $2.25 per unit), representing a 2.7% increase in the Partnership’s cash distribution per unit from $0.5475 per quarter ($2.19 per unit annualized) paid with respect to the first quarter of 2015. The distribution attributable to the second quarter is payable on September 11, 2015 to all unitholders of record on September 4, 2015.
The information in this Current Report is being furnished pursuant to Regulation FD. The information in Item 7.01 and Exhibit 99.1 of Item 9.01 of this report, according to general instruction B.2., shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. By filing this report on Form 8-K and furnishing this information, the Company makes no admission as to the materiality of any information in this report that the Company chooses to disclose solely because of Regulation FD.
Item 9.01    FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits. The information set forth in the attached Exhibit 99.1, is being “furnished” to the Securities and Exchange Commission and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act.
Exhibit
No.
  
Description
99.1
  
Press Release dated August 24, 2015, regarding the declaration of a distribution






SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
CrossAmerica Partners LP
 
By:
CrossAmerica GP LLC
 
 
its general partner
 
 
 
 
 
By:
/s/ Hamlet T. Newsom, Jr.
 
 
Name:
Hamlet T. Newsom, Jr.
 
 
Title:
Vice President, General Counsel and Corporate Secretary
 
 
 
 
Dated: August 26, 2015





EXHIBIT INDEX

Exhibit No.
 
Exhibit Description
99.1
 
Press Release dated August 24, 2015, regarding the declaration of a distribution


EX-99.1 2 exhibit991capl2q2015divide.htm EXHIBIT 99.1 Exhibit



CrossAmerica Partners LP Declares Increase of Quarterly Distribution
 
 
● An increase of $0.015 per unit increase from prior quarter, representing a 2.7%
    increase from previous quarterly distribution per unit
 
 
 
● Consistent with previously announced guidance of increasing distributions per
    unit attributable to 2015 by 7% to 9% over 2014
ALLENTOWN, PA (August 24, 2015) – CrossAmerica Partners LP (NYSE: CAPL), announced today that the Board of Directors of its general partner has approved a quarterly distribution of $0.5625 per unit attributable to the second quarter of 2015 (annualized $2.25 per unit), representing a 2.7% increase in the Partnership’s cash distribution per unit from $0.5475 per quarter ($2.19 per unit annualized) paid with respect to the first quarter of 2015.  The distribution attributable to the second quarter is payable on September 11, 2015 to all unitholders of record on September 4, 2015.
“As we stated when we released our second quarter earnings earlier this month, we generated our highest distributable cash flow to date of $14.3 million thanks to strong cash contribution from our wholesale fuel, rental income, and retail operations segments,” said Joe Topper, CEO of CrossAmerica Partners. “This 1.5 cent per unit increase in our quarterly distribution is consistent with our previously provided guidance to increase distributions per unit attributable to 2015 by 7%-9% over 2014.”
In addition, the Partnership plans to declare future quarterly distributions in conjunction with the release of its quarterly financial results. “We have modified our distribution announcement policy to reduce the time between the end of a quarter and the subsequent announcement and payment of distributions to our unit holders,” said Kim Lubel, Chairman of the Board of CrossAmerica's general partner and Chairman and CEO of CST Brands, Inc. “We continue to be pleased with the operational performance and cash flow generation of the Partnership and look forward to further growth in distributable cash flow and distributions to unit holders in years to come.”
About CrossAmerica Partners LP
CrossAmerica Partners, headquartered in Allentown, PA, is a leading wholesale distributor of motor fuels and owner and lessee of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is a wholly owned subsidiary of CST Brands, Inc., one of the largest independent retailers of motor fuels and convenience merchandise in North America. Formed in 2012, CrossAmerica Partners distributes fuel to over 1,100 locations and owns or leases nearly 750 sites in twenty-one states: Pennsylvania, New Jersey, Ohio, Florida, New York, Massachusetts, Kentucky, New Hampshire, Maine, Tennessee, Maryland, Delaware, Illinois, Indiana, West Virginia, Virginia, Texas, Minnesota, Michigan, Wisconsin, and South Dakota. The Partnership has long-term established relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf and Citgo. CrossAmerica Partners ranks as one of ExxonMobils largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com.
Safe Harbor Statement
Statements contained in this release that state the Companys or managements expectations or predictions of the future are forward-looking statements. The words believe,” expect,” should,” intends,” estimates,” target” and other





similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmericas Form 10-Q or Form 10-K filed with the Securities and Exchange Commission and available on the CrossAmerica's website at www.crossamericapartners.com. The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Note to Non-United States Investors: 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%) of CrossAmerica Partners LP’s distributions to non-U.S. investors as attributable to income that is effectively connected with a United States trade or business. Accordingly, CrossAmerica Partners LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Contacts
Investors: Karen Yeakel, Investor Relations, 610-625-8005
Randy Palmer, Investor Relations, 210-692-2160


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