Rentech Nitrogen Partners, L.P. (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.
They said, they will pay 3.30 this year, so with this .85 distribution, that leaves .22 for the next one, that sucks. But then 3.30 annual is not too bad. The shut down ( after all only one plant) will put a break on earnings for next Q.
I iwsh they'd clarify when they keep including 2011distributiuons. As I read it, if they said $3.30 this year, so far they have paid $2.55 which leaves .75 for the fourth quarter.I think the statement :
"$2.55 relates to the twelve months ending December 31, 2012," is incorrect.
So does that mean that its going to stay between .53 and 1.17 got the last div. nice one but a little disappointed with this one. Which way will it go they have a sut down in dec. that will affect earnings for either 4 q or first in 13. so what ahppens now.