HOUSTON, Jan. 21, 2016 /PRNewswire/-- Natural Resource Partners L.P. (NYSE: NRP) reported today the Board of Directors of its general partner declared a fourth quarter 2015 distribution of $0.045 per unit for NRP. The distribution will be paid on February 12, 2016 to unitholders of record on February 5, 2016.
The Board of Directors determined to maintain the fourth quarter 2015 distribution at a level consistent with the distribution declared and paid with respect to the previous quarter. NRP expects that distributable cash flow and EBITDA for the year ended December 31, 2015 will exceed the upper range of its August 2015 guidance. However, NRP also acknowledges the current challenging market conditions and expects that 2016 will be a difficult year for its coal and oil and gas business segments. The level of future quarterly distributions, if any, will be determined by the Board of Directors on a quarterly basis.
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX. NRP is a diversified natural resource company that owns interests in oil and gas, coal, aggregates and industrial minerals across the United States. A large percentage of NRP's revenues are generated from royalties and other passive income. In addition, NRP owns an equity investment in Ciner Wyoming, a trona/soda ash operation, owns non-operated working interests in oil and gas properties and owns VantaCore, making NRP one of the top 25 aggregates producers in the United States.
This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the partnership. These risks include, but are not limited to, commodity prices; decreases in demand for coal, oil, natural gas, and aggregates and industrial minerals, including trona/soda ash; changes in operating conditions and costs; production cuts by our lessees; the pace of development of our oil and natural gas properties; unanticipated geologic problems; our liquidity and access to capital and financing sources; changes in the legislative or regulatory environment and other factors detailed in Natural Resource Partners' Securities and Exchange Commission filings. Natural Resource Partners L.P. has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Withholding Information for Foreign Investors
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of NRP's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, NRP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.
SOURCE Natural Resource Partners L.P.