Oiltanking Partners, L.P. said yesterday that the board of directors of its general partner has authorized a two-for-one split of the partnership’s common and subordinated units.
Holders of record at the close of business on July 7, 2014 will receive one additional limited partner unit for each unit owned on that date. The units will be distributed on July 14, 2014.
“This two-for-one unit split reflects our continuing confidence in the future growth of Oiltanking Partners and our ability to deliver strong operating and financial results,” said Ken Owen, President and Chief Executive Officer of the Partnership’s general partner.
“We believe the unit split will make the Partnership’s units more accessible to a broader base of potential investors and enhance liquidity for all unitholders.”
Press Release, May 29, 2014