Below are some of the common questions posed by the investment community about Genesis Energy and Master Limited Partnerships.
Q: What is the difference between an investment in units of a publicly traded master limited partnership and stock in a corporation?
A: A partner in a publicly traded master limited partnership owns units in the partnership rather than shares of stock in a corporation. Partners receive cash distributions rather than dividends. Unlike a corporation, partnerships are not subject to federal and state income taxes. Instead, all income, gains, losses and deductions of a partnership are passed through to the partners who are required to report their allocable share on their tax returns. Cash distributions are not taxable as long as the partner’s tax basis in the partnership interest exceeds zero. While a corporate shareholder receives a Form 1099 each year reflecting tax information, a unitholder in a partnership receives a Tax Reporting Package including substitute Schedule K-1 and other forms to file with their tax return. The substitute K-1 reports to the Unitholders their allocable share of the partnership’s income, gains, losses and deductions.
Q: Where is Genesis stock traded? What is the stock symbol?
A: Genesis Energy, L.P. is a master limited partnership traded on the NYSE Exchange under the symbol GEL.
Q: Whom do I contact regarding: A lost/stolen/destroyed Genesis certificate; Transfer of a certificate into another name; Issuance of certificate; Change of address for certificates; Information on my account or Distributions payments?
A: Contact our transfer agent:
American Stock Transfer & Trust Company
40 Wall St.
New York, NY 10005
Q: Does Genesis have a direct unit purchase program? Can I purchase units directly from Genesis?
A: No. Common Units are publicly traded on the NYSE Alternext US Exchange. You may purchase units through your banker, broker or other financial institution.
Q: Does Genesis offer a distribution reinvestment program?
A: No. Genesis is a partnership and does not have fractional units.
Q: What is Genesis’ fiscal year? When are earnings reported?
A: Genesis’ fiscal year follows the calendar year. Annual and Quarterly earnings are generally reported 6-7 weeks following the end of the quarter.
Q: Does Genesis have a unit buy-back program?
Q: Whom should I contact at Genesis if I have other questions?
A: Contact Investor Relations at (713) 860-2500 or (800) 284-3365 or by email at GELinfo@genlp.com.
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