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Northern Tier Energy LP Message Board

  • bzusa6 bzusa6 Dec 5, 2013 4:23 PM Flag

    distribution policy - at WNR discretion

    distribution policy.
    I have been reading posts stating that the distribution policy will not change without shareholder approval or that the distribution is a fixed percentage of the profits - this is WRONG. The GP determines the distribution at their discretion.
    "The board of directors of our general partner may modify or revoke our distribution policy at any time at its discretion. Our partnership agreement does not require us to pay any
    distributions at all....The board of directors of our general partner will adopt a distribution policy pursuant to which we will distribute an amount equal to the available cash we generate each quarter. However, the board may change such policy at any time at its discretion and could elect not to pay distributions for one or more quarters."
    From the prospectus.

    Sentiment: Buy

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