When was SGLP’s initial public offering (IPO)?
The common units of the Partnership's initial public offering began trading as a publicly held master limited partnership (MLP) on July 18, 2007. The IPO was 12,500,000 Common Units representing limited partner interests in the Partnership at a price of $22.00 per unit.
What is a master limited partnership?
MLPs are publicly traded businesses that are taxed at the partner, or unitholder, level and generally are not subject to federal or state income tax. Annual income, gains, losses, deductions or credits of the MLP pass through to its unitholders. Unitholders report their allocated shares of these amounts on their individual tax returns, as though the unitholder had incurred these items directly.
What is a unitholder?
Unitholders are limited partners in the partnership. They own units of the partnership rather than shares of stock.
Where do the units trade?
SGLP common units trade on the NASDAQ Global Market under the symbol “SGLP.”
Do master limited partnerships report earnings?
Yes, MLPs file quarterly and annual financial statements with the U.S. Securities and Exchange Commission just like other publicly traded entities.
How can I buy SemGroup Energy Partners units?
You can purchase units through any registered broker.
Do partners receive dividends?
No. Partners receive cash distributions rather than dividends. The cash distributions are a return of capital to partners, or unitholders, while dividends typically are considered a payout of earnings to shareholders.
When does SGLP give cash distributions?
SGLP expects to make Quarterly Distributions no later than 45 days after the end of each fiscal quarter to unitholders of record on the applicable record dates.
What is the unitholder’s Schedule K-1?
Schedule K-1 is similar to Form 1099 that corporate stockholders receive. It provides unitholders tax information to report their individual partnership tax items for a specific tax year.
How do I get a Schedule K-1?
All partnership unitholders receive a tax-reporting package that includes a Schedule K-1. The package summarizes the unitholder’s allocated share of the Partnership’s reportable tax items for the fiscal year. Unitholders file Schedule K-1 with their annual income tax return. This Web site also provides a K-1 tax reporting link that provides unitholders fast access to information they might need during tax season. It allows unitholders to view tax schedules, print their tax package, automatically transfer amounts from their Schedule K-1 to IRS forms, download a file of their K-1 information and request changes to incorrect information. The link can be found on the site’s home page and also on the menu in the Investors section.
Are cash distributions reported as taxable income?
No. Only the taxable income amounts shown on your Schedule K-1 should be entered on your tax return.
Does SGLP have a distribution reinvestment plan?
No, not at this time, however any registered broker can assist you in purchasing SGLP units.
Where are the partnership’s offices?
The partnership headquarters is located at 6120 South Yale Avenue, Suite 500, Tulsa, OK 74136.
Who do I notify about unitholder issues?
Requests regarding transfer of units, lost certificates, lost distribution check or changes of address should be directed to:
American Stock Transfer &Trust Company
Attn: Shareholder Services
59 Maiden Lane – Plaza Level
New York, NY 10038
Phone: 800-937-5449
Who serves as SGLP’s independent auditors?
PricewaterhouseCoopers LLP