Genesis Energy Hikes Quarterly Distribution

(RTTNews) - Genesis Energy, L.P. (GEL) said Friday that it will pay a regular quarterly distribution of $0.535 per common unit for the quarter ended December 31, 2013.

The distribution will be paid on February 14, to common unitholders of record at the close of business on January 31.

The distribution represents an increase of about 10.3% over the fourth quarter 2012 quarterly distribution of $0.485 per unit, and an about 2.4% increase over the distribution paid with respect to the third quarter of 2013.

This is the thirty-fourth consecutive quarter in which Genesis has increased its quarterly distribution. During that period, twenty-nine of those quarterly increases have been 10% or greater year-over-year.