CrossAmerica Partners LP: Declares 8th Consecutive Quarterly Distribution Increase

CrossAmerica Partners LP Declares 8 th Consecutive Quarterly Distribution Increase

  • Quarterly distribution of $0.5975 per unit attributable to the first quarter of 2016
  • Increase results in the growth of 9.1% in distributions per unit attributable to the first quarter of 2016 compared to the first quarter of 2015

ALLENTOWN, PA (May 5, 2016) - CrossAmerica Partners LP (NYSE: CAPL) announced today that the Board of Directors of its general partner has approved a quarterly distribution of $0.5975 per unit attributable to the first quarter of 2016 (annualized $2.39 per unit), representing a 0.8 percent increase in the Partnership's cash distribution per unit from $0.5925 per quarter ($2.37 per unit annualized) paid with respect to the fourth quarter of 2015 and a 9.1 percent increase compared with the distribution per unit attributable to the first quarter of 2015.  The distribution attributable to the first quarter is payable on May 31, 2016 to all unitholders of record on May 19, 2016.

About CrossAmerica Partners LP

CrossAmerica Partners is a leading wholesale distributor of motor fuels and owner and lessee of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is a wholly owned subsidiary of CST Brands, Inc., one of the largest independent retailers of motor fuels and convenience merchandise in North America.  Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to more than 1,250 locations and owns or leases more than 800 sites. With a geographic footprint covering 29 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, Citgo and Marathon. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit .

CrossAmerica Partners has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2015 with the U.S. Securities and Exchange Commission (SEC).  The filing can be viewed through a link on the Partnership's website at or on the SEC's website at .  The Partnership's unitholders may also request a printed copy of the report, which contains the Partnership's audited financial statements.  Requests should be submitted at or by contacting investor relations at 610-625-8005.

Safe Harbor Statement

Statements contained in this release that state the Company's or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "estimates," "target," "plan" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica's Forms 10-Q or Form 10-K filed with the Securities and Exchange Commission and available on the CrossAmerica's website at .  The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Note to Non-United States 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%) of CrossAmerica Partners LP's distributions to non-U.S. investors as attributable to income that is effectively connected with a United States trade or business. Accordingly, CrossAmerica Partners LP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Contacts - Karen Yeakel, Investor Relations 610-625-8005 or Randy Palmer, Investor Relations, 210-692-2160

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: CrossAmerica Partners LP via GlobeNewswire