Cornerstone Announces FY 2000 First Quarter Distribution and Growth.WATSONVILLE, Calif.--(BUSINESS WIRE)--Oct. 27, 1999-- Cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to Propane Partners, L.P. ("Partnership") (NYSE NYSE See: New York Stock Exchange : "CNO CNO abbr. chief of naval operations ") announced today that its regularly scheduled distribution of $.54 per unit for the first quarter of fiscal 2000 (July 1, 1999 - September 30, 1999) will be paid on November 15, 1999 to common unitholders of record as of November 5, 1999. During the period from July 1, 1999 to September 30, 1999, Cornerstone joined with Pelliccia Bottle Gas (Farmingville, NY), L&K Service (Surveyor, WV), Searcy County Propane (Marshall, AR), Wilkerson Bottle Gas (Brooksville, FL) and Pro-pane, Inc. (Indianapolis, IN). These additions to the Cornerstone family will add approximately 5.8 million annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. retail gallons and approximately 7,000 customers. Since its inception in December 1996, Cornerstone has added approximately 102.0 million retail gallons and 127,600 customers through its acquisition efforts. "We continued this quarter with what we believe is the propane industry's fastest growth rate for adding high quality propane businesses to the Cornerstone team," said Keith G. Baxter, chief executive officer of Cornerstone. "We are extremely proud to be associated with the team members of these new Cornerstone Partners." Cornerstone Propane Partners, L.P. is a master limited partnership. The Partnership is the nation's fourth largest retail propane marketer serving over 460,000 customers with annualized sales of approximately 335 million retail gallons, doing business in 34 states through 300 customer service centers. Through its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. energy solutions service team, Coast Energy Group, the Partnership also supplies, purchases, processes and markets over 43,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. of natural gas liquids to resellers and major end users an average of approximately .8 Bcf per day in natural gas sales and 95,000 barrels per day in crude oil sales in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. For more information, please visit our websites at www.cornerstonepropane.com and www.coastenergygroup.com. The information presented herein may contain certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the federal securities laws. The Partnership's actual future performance will be affected by a number of factors, risks and uncertainties, including without limitation, weather conditions, regulatory changes, competitive factors, the Partnership's success in dealing with the Year 2000 issues and the operations of vendors, suppliers and customers, many of which are beyond the Partnership's control. Future events and results may vary substantially from what the Partnership currently foresees, and there can be no assurance that the Partnership's actual results will not differ materially from its expectations. The Partnership undertakes no obligation to publicly release any revision to these forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion