HOUSTON, July 19, 2012 /PRNewswire/ -- Natural Resource Partners L.P. (NYSE: NRP) announced today that the Board of Directors of its general partner has declared a second quarter 2012 distribution of $0.55 per unit for NRP. The distribution will be paid on August 14, 2012 to unitholders of record on August 3, 2012.
"We are pleased to make another distribution to our unitholders. We will update our guidance on August 6, but we currently have in excess of $115 million in cash on hand, and are forecasting our cash balance will continue to increase over the remainder of the year," said Corbin J. Robertson, Jr., Chairman and Chief Executive Officer.
Company ProfileNatural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is principally engaged in the business of owning and managing mineral reserve properties. NRP primarily owns coal, aggregate and oil and gas reserves across the United States that generate royalty income for the partnership.
Further information about NRP is available on the partnership's website at http://www.nrplp.com.
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.
Forward-Looking Statements This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. Such statements include the anticipated increase in cash. 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, decreases in demand for coal; changes in operating conditions and costs; production cuts by our lessees; commodity prices; unanticipated geologic problems; 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.
SOURCE Natural Resource Partners L.P.