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GENERAL INFORMATION
DISTRIBUTIONS
CLASSES OF UNITS
TAX INFORMATION
Who is the transfer Agent and Registrar of the Corporation?
| American Stock Transfer and Trust Company |
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Postal Address:
59 Maiden Lane
Plaza Level
New York, NY 10038 |
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Overnight Address:
6201 15th Avenue
Brooklyn, NY 11219 |
E-mail Address:
info@amstock.com |
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Telephone:
1-800-937-5449 | Registered shareholders may write, e-mail or call the transfer agent above for information about share balance, account consolidation, change of name or address for official records, stock transfer, and other administrative matters.
Information and forms are also available through http://amstock.com.
Where is the partnership headquarters located?
Natural Resource Partners L.P.
601 Jefferson Street
Suite 3600
Houston, Tx. 77002
713-751-7507
http://www.nrplp.com
How may I be added to the e-mail alert list for the partnership?
You may be added to the mail alert where you will be notified by email if the partnership issues any news releases, adds partnership events to its website or makes any filings with the Securities and Exchange Commission.
To add your email address to mail alert please visit the Investors section - Email Alerts- or Click Here
How may I be added to the mailing list for the partnership?
To request information please contact Investor Relations at (713) 751-7555 or send a request to:
Investor Relations
Natural Resource Partners L.P.
601 Jefferson Street
Suite 3600
Houston, Tx. 77002
How many employees does the Partnership have?
None, all employees are employees of the General Partner and their wages and expenses are billed through the General Partner. The General Partner currently employees 55 individuals.
Please describe the units outstanding?
There are currently two classes of units outstanding. The Common Units are those that publicly trade on the NYSE under the symbol NRP. Currently there are 53,537,502 common units outstanding of which 30,254,722 are publicly traded.
The Subordinated Units are traded on the NYSE under the symbol NSP of which 4,796,900 are publicly traded. There are currently 11,353,634 units outstanding. The Subordinated Units will convert to common units on a one-for-one basis, on November 14, 2007.
What is the subordination period and when does it end?
During the subordination period, the subordinated units will not be entitled to receive any distributions until the common units have received the minimum quarterly distribution plus any arrearages from prior quarters. The subordination period will end once we meet the financial tests in the partnership agreement, but it generally cannot end before September 30, 2007. When the subordination period ends, all remaining subordinated units will convert into common units on a one-for-one basis and the common units will no longer be entitled to arrearages. All financial tests in partnership agreement have been met and the conversion will occur on November 14, 2007.
What is the limited call right?
If at any time our general partner and its affiliates own more than 80% of the outstanding common units, our general partner has the right but not the obligation, to purchase all of the remaining common units at a price not less than the then current market price.
When are distributions declared and paid?
The Partnership will make the quarterly distributions within 45 days after the end of each quarter to the unitholders of record on the applicable record date.
What amount is distributed quarterly?
The partnership intends to distribute to the holders of the common units and the subordinated units on a quarterly basis at least the minimum quarterly distribution of $0.25625 or $1.025 per year, to the extent we have sufficient cash from our operations after establishment of cash reserves and payment of fees and expenses, including payments to our general partner and its affiliates. There is no guarantee, however, that we will pay the minimum distribution and we will be prohibited from making any distributions to unitholders if it would cause an event of default, or if an event of default exists, under our credit facility. In general, we will pay any cash distributions we make each quarter in the following manner:
First, 98% to the common units and 2% to the general partner, until each common unit has received a minimum quarterly distribution of $0.25625 plus any arrearages in the payment of the minimum quarterly distribution from prior quarters;
Second, 98% to the subordinated units and 2% to the general partner, until each subordinated unit has received a minimum of $0.25625; and
Third, 98% to all units, pro rata and 2% to the general partner until each unit has received a distribution of $0.28125.
If cash distributions per unit exceed $0.28125 in any quarter, the holders of the incentive distribution rights will receive, on a pro rata basis, a higher percentage of the cash we distribute in excess of that amount in increasing percentages up to an aggregate of 48%. We refer to these distributions as incentive distributions.
What is the distribution history?
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Declared |
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Ex-Date |
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Record |
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Payable |
Amount |
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10/15/2008 |
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10/30/2008 |
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11/03/2008 |
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11/14/2008 |
$0.52500 |
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07/16/2008 |
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07/30/2008 |
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08/01/2008 |
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08/14/2008 |
$0.51500 |
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04/16/2008 |
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04/29/2008 |
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05/01/2008 |
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05/14/2008 |
$0.49500 |
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01/16/2008 |
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01/30/2008 |
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02/01/2008 |
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02/14/2008 |
$0.48500 |
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10/17/2007 |
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10/30/2007 |
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11/01/2007 |
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11/14/2007 |
$0.47500 |
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07/18/2007 |
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07/30/2007 |
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08/01/2007 |
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08/14/2007 |
$0.46500 |
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04/18/2007 |
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04/27/2007 |
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05/01/2007 |
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05/14/2007 |
$0.45500 |
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01/17/2007 |
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01/30/2007 |
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02/01/2007 |
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02/14/2007 |
$0.44000 |
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10/17/2006 |
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10/30/2006 |
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11/01/2006 |
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11/14/2006 |
$0.42500 |
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07/19/2006 |
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07/28/2006 |
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08/01/2006 |
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08/14/2006 |
$0.41000 |
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04/18/2006 |
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04/27/2006 |
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05/01/2006 |
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05/12/2006 |
$0.39500 |
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01/18/2006 |
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01/30/2006 |
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02/01/2006 |
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02/14/2006 |
$0.38125 |
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10/20/2005 |
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10/28/2005 |
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11/01/2005 |
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11/14/2005 |
$0.36875 |
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07/20/2005 |
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07/28/2005 |
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08/01/2005 |
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08/12/2005 |
$0.35625 |
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04/20/2005 |
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04/28/2005 |
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05/02/2005 |
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05/13/2005 |
$0.34375 |
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01/20/2005 |
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01/28/2005 |
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02/01/2005 |
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02/14/2005 |
$0.33125 |
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10/20/2004 |
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10/28/2004 |
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11/01/2004 |
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11/12/2004 |
$0.31875 |
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07/21/2004 |
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07/21/2004 |
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07/21/2004 |
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07/21/2004 |
$0.30000 |
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04/21/2004 |
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04/29/2004 |
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05/03/2004 |
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05/14/2004 |
$0.28750 |
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01/21/2004 |
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01/29/2004 |
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02/02/2004 |
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02/13/2004 |
$0.28125 |
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10/23/2003 |
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10/30/2003 |
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11/03/2003 |
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11/14/2003 |
$0.26875 |
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07/18/2003 |
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07/30/2003 |
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08/01/2003 |
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08/14/2003 |
$0.26125 |
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04/21/2003 |
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04/29/2003 |
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05/01/2003 |
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05/15/2003 |
$0.26125 |
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01/21/2003 |
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01/30/2003 |
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02/03/2003 |
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02/14/2003 |
$0.21170* |
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| *This initial distribution is equivalent to a full quarter minimum distribution of $0.25625 prorated for the period from October 17, 2002, the date of closing of the initial public offering of common units, through December 31, 2002, the end of the quarter.
All distributions have been adjusted to reflect the two-for-one unit split in April 2007.
What tax information will I receive at the end of the year? Since the entity is a partnership, you will receive a Form K-1 in approximately March of each year. You will not receive a Form 1099.
What portion of the cash distributed will be taxable income?
We estimate that if you own the units that you purchased in the subordinated unit offering August 2005 through December 31, 2007 you will be allocated, on a cumulative basis, an amount of federal taxable income for that period that will be approximately 30% of the cash distributed to you with respect to that period. A substantial portion of the income that will be allocated to you is expected to be long-term capital gain, which for individuals is subject to a significantly lower maximum federal income tax rate (currently 15%) than ordinary income (currently taxable at a maximum rate of 35%).
Must I pay income taxes in various states in which the Partnership operates?
Appropriate information is provided on the Form K-1 to file the necessary returns. You should contact your tax adviser regarding applicable state income taxes. The partnership owns assets in Alabama, Illinois, Indiana, Kentucky, Maryland, Montana, Virginia and West Virginia. Each of these states currently impose a personal income tax. You may reach the appropriate state tax websites by clicking on the appropriate link below.
Does the partnership have unrelated business taxable income(UBTI)?
The partnership does have UBTI making this investment not suitable for IRA's and regulated investment companies.
May this security be held by non-U.S. persons?
While the security is not prohibited from being held by a non-U.S. person, any distributions to non-U.S. persons will be reduced by withholding tax at the highest effective tax rate applicable to individuals, and non U.S. unitholders will be required to file federal income tax returns and pay tax on their share of our taxable income.
May I invest in NRP through my individual retirement account (IRA)?
While investing in NRP through an IRA is not prohibited, it may not be advisable. Under certain circumstances, due to unrelated business taxable income, the income may be taxable to the unitholder even though it is held in an IRA. Before investing in NRP through an IRA it is advisable that you speak with your tax adviser.
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