Rentech Nitrogen Partners, L.P. Announces Third Quarter Distribution of $0.85 per Unit
Rentech Nitrogen Partners, L.P. (NYSE: RNF) announced today the declaration of a cash distribution of $0.85 per common unit for the third quarter of 2012. The distribution is payable on November 14, 2012 to holders of record as of November 7, 2012.
This will be the third cash distribution paid by Rentech Nitrogen since its initial public offering (IPO) in November 2011, and will result in cumulative cash distributions since the IPO of $3.08 per common unit. Of that amount, $2.55 relates to the twelve months ending December 31, 2012, and $0.53 relates to the period from the IPO through December 31, 2011.
Rentech Nitrogen reiterates its guidance of cash available for distribution in excess of $126 million or $3.30 per common unit for the twelve months ending December 31, 2012 (as described in its press release dated August 10, 2012).
As previously announced, the Partnership will hold a conference call to discuss financial results for the third quarter on Thursday, November 8, 2012 at 9:00 a.m. PST. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing 800-404-5245 or 303-223-4363. An audio webcast of the call will be available at www.rentechnitrogen.com within the Investor Relations portion of the site under the Presentations section. A replay will be available by audio webcast and teleconference from 11:00 a.m. PST on November 8 through 11:00 a.m. PST on November 15. The replay teleconference will be available by dialing 800-633-8284 or 402-977-9140 and the reservation number 21607176.
This release is intended to serve as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of Rentech Nitrogen's distributions to foreign investors is attributable to income that is effectively connected with a United States trade or business. Accordingly, Rentech Nitrogen's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Safe Harbor Statement
This press release contains forward-looking statements about matters such as: our forecasted cash available for distribution for the twelve months ending December 31, 2012 and related assumptions (please see Rentech Nitrogen's press release dated August 10, 2012 for further details on the forecast and its underlying assumptions). These statements are based on management's current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Partnership's prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech Nitrogen's website at www.rentechnitrogen.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech Nitrogen does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.
About Rentech Nitrogen Partners, L.P.
Rentech Nitrogen Partners, L.P. (www.rentechnitrogen.com) was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogen's principal asset is a nitrogen fertilizer facility located in East Dubuque, Illinois. The facility is situated in the Mid Corn Belt in the northwestern corner of Illinois, adjacent to the Iowa and Wisconsin state lines, and produces primarily anhydrous ammonia and urea ammonium nitrate solution, using natural gas as its primary feedstock, for sale to customers in the Mid Corn Belt.
Rentech Nitrogen Partners, L.P.
Julie Dawoodjee Cafarella
Vice President of Investor Relations and Communications