Business Context and Reporting Period
This Form 8-K Current Report was filed by Global Partners LP on October 18, 2021. The filing serves as a Regulation FD disclosure regarding the declaration of quarterly cash distributions for the Partnership's preferred units. The Partnership is incorporated in Delaware and its securities trade on the New York Stock Exchange under the symbols GLP, GLP pr A, and GLP pr B.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The primary financial data disclosed relates to the declared distributions for the period from August 15, 2021, through November 14, 2021:
- Series A Preferred Units: Quarterly distribution of $0.609375 per unit ($2.4375 annualized).
- Series B Preferred Units: Quarterly distribution of $0.59375 per unit ($2.375 annualized).
- Payment Date: November 15, 2021.
- Record Date: November 1, 2021.
Material Changes
The filing does not report material changes in revenue, operating margins, or debt levels compared to prior periods. The only material event reported is the Board of Directors' declaration of the specific quarterly cash distributions for Series A and Series B preferred units.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies beyond the standard disclosure that the information in Item 7.01 is not deemed "filed" under the Exchange Act unless specifically incorporated by reference.
Investor Verification Checklist
- Verify the record date of November 1, 2021, to confirm eligibility for the upcoming distribution.
- Confirm the payment date of November 15, 2021, for Series A and Series B preferred unitholders.
- Review the attached press release (Exhibit 99.1) for any additional context regarding the distribution declaration.
- Note that this filing does not contain updated financial performance data (revenue, EBITDA, or liquidity) for the period.