HOUSTON, April 26, 2017 /PRNewswire/ -- Natural Resource Partners L.P. (NYSE: NRP) today announced that the Board of Directors of its general partner declared a first quarter 2017 distribution of $0.45 per unit for NRP. The distribution will be paid on May 12, 2017 to unitholders of record on May 5, 2017.
In addition, the Board declared a distribution on NRP's 12.0% Class A Convertible Preferred Units with respect to the period such units were outstanding during the first quarter. One-half of the distribution on the preferred units will be paid-in-kind through the issuance of 1,250 additional preferred units.
Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a diversified natural resource company that owns interests in 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 and owns VantaCore, one of the top 25 aggregates producers in the United States.
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.
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SOURCE Natural Resource Partners L.P.