Distributions To Unitholders

12 Months Ended

Dec. 31, 2016

Distributions To Unitholders

Distributions To Unitholders

15. 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 843,989 paid-in-kind units were distributed for the year ended December 31, 2015.

The table below reflects the payment of cash distributions on common units during the years ended December 31, 2016 and 2015.

	Distribution		Date of	Date of	Date of
Three months ended	per unit		declaration	record	distribution
September 30, 2015	$	0.4000	November 10, 2016	November 20, 2015	November 30, 2015
December 31, 2015	$	0.4060	February 9, 2016	February 19, 2016	February 29, 2016
March 31, 2016	$	0.4121	May 10, 2016	May 20, 2016	May 31, 2016
June 30, 2016	$	0.4183	August 10, 2016	August 22, 2016	August 31, 2016
September 30, 2016	$	0.4246	October 31, 2016	November 10, 2016	November 30, 2016
December 31, 2016	$	0.4310	February 9, 2017	February 20, 2017	February 28, 2017

The table below reflects the payment of distributions on Class B preferred units during the years ended December 31, 2016 and 2015.

	Cash distribution		Date of	Date of	Date of
Three months ended	per unit		declaration	record	distribution
December 31, 2015	$	0.3815	February 9, 2016	February 19, 2016	February 29, 2016
March 31, 2016	$	0.4500	May 10, 2016	May 20, 2016	May 31, 2016
June 30, 2016	$	0.4500	August 10, 2016	August 22, 2016	August 31, 2016
September 30, 2016	$	0.4500	October 31, 2016	November 10, 2016	November 30, 2016
December 31, 2016 (a)	$	0.2258	February 9, 2017	February 20, 2017	February 28, 2017

The Partnership elected to pay the fourth quarter 2016 distribution on the Class B preferred units in part cash and, with the consent of the Class B preferred unitholder, in part common units (in lieu of additional Class B preferred units).  Accordingly, the Partnership declared a cash distribution of $0.2258 per Class B preferred unit and an aggregate distribution of 208,594 common units, each paid on February 28, 2017 to holders of record on February 20, 2017.