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Natural Resource Partners L.P. Increases Distribution and Reaffirms Guidance

10/15/2008

HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Natural Resource Partners L.P. (NYSE: NRP) announced today that the Board of Directors of its general partner has declared a third quarter 2008 distribution of $0.525 per unit for NRP, an increase of $0.01 in its quarterly distribution. The distribution will be paid on November 14, 2008 to unitholders of record on November 3, 2008. This represents a 10.5% increase in the distribution over the third quarter 2007.

"We are pleased to announce our twenty-first consecutive increase in the quarterly distribution for NRP, demonstrating our commitment to increasing distributions and generating returns for our unitholders," said Corbin J. Robertson Jr., Chairman and Chief Executive Officer of Natural Resource Partners L.P.

"While the stock market and credit markets over the last few months have been in turmoil, we have remained focused on our business plan and continue to see strong fundamentals for our business," said Nick Carter, President and Chief Operating Officer. "We still anticipate a 15% increase in our distributable cash flow over the amount originally anticipated at the beginning of 2008 and reiterate our increased guidance issued on August 11."

"With nominal maintenance capital expenditure requirements and substantial cash reserves in the bank, combined with a strong balance sheet and significant borrowing capacity under our credit facility, NRP is well positioned to make selective acquisitions to help further grow our distributions to our unitholders in the future," said Dwight Dunlap, Chief Financial Officer.

Company Profile

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, and coal handling and transportation infrastructure in the three major coal producing regions of the United States: Appalachia, the Illinois Basin and the Powder River Basin. In addition, the partnership also manages aggregate reserves, oil and gas properties and timber assets across the United States.

For additional information, please contact Kathy H. Roberts at 713-751-7555 or kroberts@nrplp.com. Further information about NRP is available on the partnership's website at http://www.nrplp.com.

This press release may include "forward-looking statements" as defined by the Securities and Exchange Commission. Such statements include the guidance issued on August 11, 2008 regarding 2008 anticipated results. All statements included in this press release that address activities, events or developments that the partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the partnership. These risks include, but are not limited to, decreases in demand for coal; changes in operating conditions and costs; production cuts by our lessees; commodity prices; unanticipated geologic problems; changes in the legislative or regulatory environment and other factors detailed in Natural Resource Partners' Securities and Exchange Commission filings. Natural Resource Partners L.P. has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE
Natural Resource Partners L.P.

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