Distributions To Unitholders

9 Months Ended

Sep. 30, 2016

Distributions To Unitholders

Distributions To Unitholders

14. DISTRIBUTIONS TO UNITHOLDERS

From the second quarter of 2009 through the second quarter of 2015, we did not pay distributions on our common units.  Starting in the third quarter of 2015, the board of directors of our general partner declared distributions of Class A Preferred Units on August 10, 2015 and November 10, 2015 to holders as of August 14, 2015 and November 16, 2015, respectively. A total of 549,756 paid-in-kind units were distributed for the year ended December 31, 2015.  On November 30, 2015, we paid a cash distribution with respect to the quarter ended September 30, 2015 in the amount of $0.400 per common unit.  On February 9, 2016, we announced that the board of directors of our general partner approved a cash distribution of $0.406 per common unit for the fourth quarter of 2015.  The Partnership also declared a fourth quarter 2015 paid-in-kind distribution of 2.5% on its Class A preferred units and a fourth quarter prorated cash distribution of $0.3815 on its Class B preferred units.  The distributions were paid on February 29,  2016 to unitholders of record on February 19, 2016.  On May 10, 2016, we announced that the board of directors of our general partner approved a cash distribution of $0.4121 per common unit and $0.450 per Class B preferred unit for the first quarter of 2016.  The distributions were paid on May 31, 2016 to unitholders of record on May 20, 2016.  All Class A preferred Units were converted to common units on a one to one basis at March 31, 2016; as such, no paid-in-kind distributions were made on Class A Preferred Units for the first quarter of 2016. On August 10, 2016, we announced that the board of directors of our general partner approved a cash distribution of $0.4183 per common unit and $0.450 per Class B preferred unit for the second quarter of 2016. The distributions were paid on August 31, 2016 to unitholders of record on August 22, 2016. On October 31, 2016, we announced that the board of directors of our general partner approved a cash distribution of $0.4246 per common unit and $0.450 per Class B preferred unit for the third quarter of 2016. The distributions are payable on November 30, 2016 to unitholders of record on November 10, 2016.