News Releases Details

View all news

Natural Resource Partners L.P. Increases Distribution for the Thirteenth Consecutive Quarter and Announces Second Conversion of NSP Units


HOUSTON, Oct 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Natural Resource Partners L.P. (NYSE: NRP) and (NYSE: NSP) today announced that the Board of Directors of its general partner has declared a third quarter 2006 distribution of $0.85 per unit for both NRP and NSP, an increase of $0.03 in its quarterly distribution. This equates to an annualized distribution of $3.40 per unit. The distribution will be paid on November 14, 2006 to unitholders of record on November 1, 2006. This makes the thirteenth consecutive quarter that the partnership has increased its distribution and represents a 15% increase over the third quarter distribution last year.

In conjunction with the payment of the third quarter distribution, the partnership also announced that effective at the close of business on November 14, 2006 there will be a mandatory and automatic conversion of one-third of the subordinated units traded under the ticker symbol NSP into common units traded under the ticker symbol NRP. Provided all terms of the conversion set forth in the partnership agreement have been met, all remaining NSP units will convert into NRP units in mid-November 2007.

Natural Resource Partners L.P. is headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is a master limited partnership that is principally engaged in the business of owning and managing coal properties in the three major coal producing regions of the United States: Appalachia, the Illinois Basin and the Powder River Basin.

For additional information, please contact Kathy Hager at 713-751-7555 or . Further information about NRP is available on the partnership's website at .

SOURCE Natural Resource Partners L.P.

Kathy Hager of Natural Resource Partners L.P.,

Multimedia Files:

View all news