SDLP - Seadrill Partners LLC Announces Reduction to Quarterly Cash Distributions
SEADRILL PARTNERS (SDLP)
US:NYSE Investor Relations:
seadrillpartners.com/investor-relations
Company Research
Source: GlobeNewswire
London, United Kingdom, July 25, 2019 - Seadrill Partners LLC (NYSE: SDLP) ("Seadrill Partners" or the "Company") announces today that it will reduce the quarterly distribution to its common unitholders to 1 cent per unit, down from the reverse split adjusted first quarter level of 10 cents per unit. While we continue to see improvements in tendering activity and dayrates, the reduced distribution level reflects the Company's desire to preserve liquidity ahead of debt maturities in the second half of 2020 and first quarter of 2021. The second quarter cash distribution will be paid on August 14, 2019 to all unitholders of record as of the close of business on August 7, 2019. FORWARD LOOKING STATEMENTSThis news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business and the markets in which it operate
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