Vanguard Natural Resources LLC (Nasdaq: VNR) declared a cash distribution attributable to August of $0.2075 per unit or $2.49 on an annual basis.
The distribution is payable on Oct. 15 to unitholders of record on Oct. 1. In addition, Vanguard has also declared a cash distribution for its 7.875% series A cumulative redeemable perpetual preferred units (Nasdaq: VNRAP) of $0.1641 per unit payable on Oct. 15 to unitholders of record on Oct. 8.
“We are very pleased with the response from both existing and new investors when we introduced VNRAP to the marketplace. We continue to believe traditional preferred investors want to see master limited partnerships (MLPs) issue this product and are optimistic that this type of security will gain momentum as more MLPs choose to issue preferred units as part of their financing strategy,” Richard Robert, executive vice president and chief financial officer, said in the release.
Vanguard Natural Resources LLC engages in the acquisition and development of oil and natural gas properties in the U.S. The company is headquartered in Houston.