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.
You are correct however there has been no indication any such change is planned. They only just bought the GP, I think they'd be unlikely to immediately go and mess with it. No point in worrying about future 'what ifs' like that are there are any number of things that might positively or negatively impact this investment over the next years.
"And there is no indication they plan to change policy because THEY would not get any distributions either if they eliminated distributions."
Well that is a silly statement. If they eliminated distributions they could keep all the cash for themselves. They are the real owners of NTI now, they make the rules. But as I've said, I assume they bought the GP because the like the model and therefore don't plan on immediately dismantling it.