Natural Resource Partners L.P. (NRP) today announced that the Board of Directors of its general partner declared a first quarter 2019 distribution of $0.45 per NRP common unit. The distribution will be paid on May 14, 2019 to unitholders of record on May 7, 2019.
The Board also declared a first quarter cash distribution on NRP’s 12.0% Class A Convertible Preferred Units, totaling $7.5 million.
In addition, the Board declared a one-time special distribution of $0.85 per NRP common unit. The purpose of this special distribution is to cover the common unitholders’ tax liability resulting from the sale of NRP’s construction aggregates business in December 2018. This one-time special distribution of $0.85 per common unit will be paid on May 14, 2019 to unitholders of record on May 7, 2019.
Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a diversified natural resource company that owns interests in coal, aggregates, and industrial minerals across the United States, including an equity investment in Ciner Wyoming, a trona/soda ash operation.
Withholding Information for Foreign Investors
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of NRP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, NRP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.