HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will pay a regular quarterly distribution of $0.40 per Common Unit for the quarter ended December 31, 2010. The distribution will be paid on February 14, 2011, to Common Unitholders of record at the close of business on February 2, 2011. This distribution represents an increase of approximately 11.1% over the fourth quarter 2009 quarterly distribution of $0.36 per unit, and an approximate 3.2% increase over the distribution paid with respect to the third quarter of 2010. This is the twenty-second consecutive quarter in which Genesis has increased its quarterly distribution.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis engages in four business segments. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations, principally located in Texas, Louisiana, and Arkansas. The Supply and Logistics Division is engaged in the transportation, storage and supply and marketing of energy products, including crude oil and refined products. The Industrial Gases Division produces and supplies industrial gases such as carbon dioxide and syngas. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and the Gulf of Mexico.