Landmark Infrastructure Partners LP Announces Quarterly Distribution
Landmark Infrastructure Partners LP - Common Units (LMRK)
Last landmark infrastructure partners lp - common units earnings: 2/27 08:00 am
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Source: GlobeNewswire
EL SEGUNDO, Calif., April 21, 2020 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (the “Partnership”) (NASDAQ: LMRK) announced today that the board of directors of its general partner approved a distribution of $0.20 per common unit for the quarter ended March 31, 2020, which is payable on May 15, 2020 to common unitholders of record as of the close of business on May 4, 2020. This distribution amount, which is a reduction from the $0.3675 per unit in the previous quarter, represents on an annualized basis $17.0 million of additional cash available to strengthen our balance sheet and enhance our long-term financial flexibility. “Given the heightened uncertainty around the impact of the coronavirus (COVID-19) on the economy, we believe this action is in the best interests of our unitholders and the Partnership,” said Tim Brazy, Chief Executive Officer of the Partnership’s general partner. “Our portfolio performed well in the first quarter; however, given the potential
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