Hi-Crush Partners LP Announces Second Quarter 2013 Distribution
Houston, Texas, July 17, 2013 - Hi-Crush Partners LP (NYSE: HCLP), or Hi-Crush, announced today that the Board of Directors of its general partner has declared a cash distribution for the second quarter of 2013 of $0.475 per unit on all common and subordinated units. This distribution is the fourth declared by the partnership and is equal to the minimum quarterly distribution of $0.475 per unit, or $1.90 on an annualized basis. The distribution will be paid on August 15, 2013 to all common and subordinated unitholders of record on August 1, 2013.
Distributions to Foreign Investors
The declaration of the distribution intended to be a qualified notice to nominees under Treasury Regulation Section 1.1446-4(b), with 100% of the Partnership's distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Hi-Crush is an integrated producer, transporter, marketer and distributor of high-quality monocrystalline sand, a specialized mineral that is used as a "proppant" (frac sand) to enhance the recovery rates of hydrocarbons from oil and natural gas wells. Our reserves, which are located in Wyeville, Wisconsin, consist of "Northern White" sand, a resource that exists predominately in Wisconsin and limited portions of the upper Midwest region of the United States. Hi-Crush owns and operates the largest distribution network in the Marcellus and Utica shales, and has distribution capabilities throughout North America. For more information, visit www.hicrushpartners.com.
Source: Hi-Crush Partners LP