INDIANAPOLIS, Oct. 13 /PRNewswire-FirstCall/ -- Calumet Specialty Products Partners, L.P. (Nasdaq: CLMT) ("Partnership") today announced that the Board of Directors of the Partnership's general partner has approved an increase in its quarterly cash distribution to $0.46 per unit ($1.84 per unit on an annualized basis) for the quarter ended September 30, 2010 on all of its outstanding limited partner units. The distribution will be payable on November 12, 2010 to holders of record of such units at the close of business on November 2, 2010. This quarterly distribution represents an increase over the quarterly distribution of $0.455 per unit paid in August 2010 for the quarter ended June 30, 2010.
In addition, the Partnership will report earnings for the quarter ended September 30, 2010 on Wednesday, November 3, 2010 before the market opens.
A conference call is scheduled for 1:00 p.m. ET (12:00 p.m. CT) Wednesday, November 3, 2010, to discuss the financial and operational results for the third quarter of 2010. Anyone interested in listening to the presentation may call 866-730-5764 and enter passcode 35701361. For international callers, the dial-in number is 857-350-1588 and the passcode is 35701361.
The telephonic replay is available in the United States by calling 888-286-8010 and entering passcode 41866668. International callers can access the replay by calling 617-801-6888 and entering passcode 41866668. The replay will be available beginning Wednesday, November 3, 2010, at approximately 4:00 p.m. until Wednesday, November 17, 2010.
A webcast of the earnings call will be available on the Partnership's website at http://www.calumetspecialty.com.
Calumet Specialty Products Partners, L.P. (Nasdaq: CLMT) ("Calumet") is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils, solvents, and waxes used in consumer, industrial, and automotive products. Calumet also produces fuel products including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has five plants located in northwest Louisiana, western Pennsylvania, and southern Texas, and a blending facility located in Burnham, Illinois.
Forward Looking Statements
Some of the information in this release may contain forward-looking statements. These statements can be identified by the use of forward-looking terminology including "may," "believe," "expect," "anticipate," "estimate," "continue," or other similar words. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other "forward-looking" information. These forward-looking statements involve risks and uncertainties that are difficult to predict and may be beyond our control. These risks and uncertainties include the overall demand for specialty hydrocarbon products, fuels and other refined products; our ability to produce specialty products and fuels that meet our customers' unique and precise specifications; the impact of fluctuations and rapid increases and decreases in crude oil and crack spread prices, including the impact on our liquidity; the results of the Partnership's hedging and risk management activities; the availability of, and the Partnership's ability to consummate, acquisition or combination opportunities; labor relations; the ability of the Partnership to comply with the financial covenants contained in its credit facilities; the Partnership's access to capital to fund acquisitions and its ability to obtain debt or equity financing on satisfactory terms; successful integration and future performance of acquired assets or businesses; environmental liabilities or events that are not covered by an indemnity; insurance or existing reserves; maintenance of the Partnership's credit ratings and ability to receive open credit from its suppliers; demand for various grades of crude oil and resulting changes in pricing conditions; fluctuations in refinery capacity; the effects of competition; continued creditworthiness of, and performance by, counterparties; the impact of current and future laws, rulings and governmental regulations; shortages or cost increases of power supplies, natural gas, materials or labor; hurricane or other weather interference with business operations; fluctuations in the debt and equity markets; and general economic, market or business conditions. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in this release as well as the Partnership's most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, which could cause the Partnership's actual results to differ materially from those contained in any forward-looking statement.
SOURCE Calumet Specialty Products Partners, L.P.