SUGAR LAND, Texas, April 26, 2012 /PRNewswire/ -- CVR Partners,
LP (NYSE: UAN), a master limited partnership and manufacturer of
ammonia and urea ammonium nitrate (UAN) solution fertilizer
products, today declared a cash distribution of 52.3 cents per common unit for the first quarter
of 2012.
(Logo: http://photos.prnewswire.com/prnh/20080226/CVRLOGO)
The distribution as set by the board of CVR GP, LLC, the general
partner of CVR Partners, will be paid May
15, 2012, to unit holders of record on May 8, 2012.
This will be the fourth cash distribution paid by the
partnership since its IPO in April
2011, and will result in cumulative cash distributions paid
of $2.09 per common unit. This
exceeds the company's previous distribution guidance range of
$2.00 to $2.05 per common unit for
the 12 months ended March 31, 2012,
and represents a 9 percent increase over its original distribution
guidance of $1.92 per common unit for
the same period.
CVR Partners previously announced that it will release its first
quarter 2012 results on Tuesday, May
1, after the close of New York Stock Exchange trading.
Chief Executive Officer Byron Kelley
and other executives will host a teleconference call for analysts
and investors on Wednesday, May 2, at
9:30 a.m. Eastern time.
The Earnings Conference Call will be broadcast live over the
Internet at http://www.videonewswire.com/event.asp?id=86172.
For investors or analysts who want to participate during the call,
the dial-in number is (877) 869-3847. For those unable to listen
live, the Webcast will be archived and available for 28 days at
http://www.videonewswire.com/event.asp?id=86172. A repeat of
the conference call can also be accessed by dialing (877) 660-6853,
replay account 386, replay ID 391920.
CVR Partners' 2012 first quarter earnings news release will be
distributed via PR Newswire and posted at www.CVRPartners.com.
This release serves as a qualified notice to nominees and
brokers as provided for under Treasury Regulation Section
1.1446-4(b). Please note that 100 percent of CVR Partners'
distributions to foreign investors are attributable to income that
is effectively connected with a United
States trade or business. Accordingly, the CVR Partners'
distributions to foreign investors are subject to federal income
tax withholding at the highest effective tax rate.
This news release contains forward-looking statements. You can
generally identify forward-looking statements by our use of
forward-looking terminology such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may,"
"might," "plan," "potential," "predict," "seek," "should," or
"will," or the negative thereof or other variations thereon or
comparable terminology. These forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. For a discussion of risk
factors which may affect our results, please see the risk factors
and other disclosures included in our Annual Report on
Form 10-K for the year ended Dec. 31,
2011, and any subsequently filed quarterly reports on Form
10-Q. These risks may cause our actual results, performance
or achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date hereof. CVR
Partners undertakes no duty to update its forward-looking
statements.
About CVR Partners, LP
Headquartered in Sugar Land,
Texas, with manufacturing facilities located in Coffeyville, Kan., CVR Partners, LP is a
Delaware limited partnership
focused primarily on the manufacture of nitrogen fertilizers. The
CVR Partners nitrogen fertilizer manufacturing facility is the only
operation in North America that
uses a petroleum coke gasification process to produce nitrogen
fertilizer and includes a 1,225 ton-per-day ammonia unit, a 2,025
ton-per-day urea ammonium nitrate unit, and a dual-train gasifier
complex having a capacity of 84 million standard cubic feet per day
of hydrogen.
SOURCE CVR Partners, LP