Print Page | Close Window

Distributions

Terra Nitrogen Company, L.P. (NYSE symbol: TNH) is required to distribute each quarter 100% of its "available cash", as defined by the Partnership agreement, to unitholders and the General Partner. The amount of available cash depends on, among other factors, TNCLP's profitability, working capital changes, capital spending and future cash needs.

Below is information about TNCLP’s cash distributions to unitholders from 1996 to the present. Please note that the graph below shows the quarter in which the distributions were paid, based on available cash from the previous quarter.

TNCLP announced a cash distribution for the quarter ended March 31, 2012, of $4.00 per common limited partnership unit.

TNH Cash Distributions per Common Unit



View chart data.

Additional Information about the Distribution

Of the Available Cash from Terra Nitrogen, Limited Partnership (the Operating Partnership), 99% is distributed to TNCLP and 1% is distributed to the General Partner, TNGP Inc. Cash distributions from the Operating Partnership generally represent Available Cash from operations. Cash distributions are made 99.975% to Common Unitholders and 0.025% to the General Partner, except when cumulative distributions of Available Cash exceed specified target levels above the Minimum Quarterly Distribution (MQD) of $0.605 per unit.

When cumulative targeted levels are attained, the General Partner is entitled, as an incentive, to larger percentage interests. The Common Units, Class B Common Units and General Partner Units percentage interests in TNCLP's distributions of Available Cash at various levels follows.

Distribution Allocation
(of 99% Remaining after 1% Distribution to General Partner)
Target Level (Distribution/Unit)Percent Allocable To:
Common Units Class B Common Units General Partner Units
$0.605 (MQD)98.990%0.985%0.025%
$0.715 (First Target)98.990%0.985%0.025%
$0.825 (Second Target)85.859%0.985%13.157%
$1.045 (Third Target)75.758%0.985%23.258%

>$1.045 (Final Target)

50.505%0.985%48.510%
Distribution History
RecordDeclaredPayableAmountType
02/19/1302/08/1302/28/13$3.63Regular Cash
11/16/1211/05/1211/29/12$4.12Regular Cash
08/17/1208/06/1208/29/12$4.21Regular Cash
05/15/1205/03/1205/30/12$4.00Regular Cash
02/21/1202/10/1202/29/12$4.53Regular Cash
11/14/1111/01/1111/29/11$3.96Regular Cash
08/15/1108/04/1108/29/11$3.75Regular Cash
05/16/1105/05/1105/27/11$4.84Regular Cash
02/22/1102/11/1103/01/11$1.36Regular Cash
11/15/1011/04/1011/29/10$1.40Regular Cash
08/10/1007/28/1008/25/10$2.36Regular Cash
05/10/1004/28/1005/27/10$1.25Regular Cash
11/06/0910/22/0911/24/09$1.63Regular Cash
08/07/0907/23/0908/27/09$2.22Regular Cash
05/05/0904/21/0905/27/09$2.10Regular Cash
02/17/0902/10/0902/27/09$2.97Regular Cash
11/07/0810/23/0811/25/08$2.80Regular Cash
08/08/0807/24/0808/28/08$3.63Regular Cash
05/08/0804/24/0805/28/08$4.20Regular Cash
02/12/0802/07/0802/27/08$4.45Regular Cash
11/08/0710/25/0711/26/07$2.10Regular Cash
08/09/0707/26/0708/27/07$3.00Regular Cash
05/10/0704/26/0705/29/07$1.57Regular Cash
02/15/0702/08/0702/27/07$.97Regular Cash
11/09/0610/26/0611/27/06$1.00Regular Cash
08/09/0607/27/0608/25/06$.92Regular Cash
11/08/0510/27/0511/23/05$.30Regular Cash
08/08/0507/28/0508/24/05$1.45Regular Cash
05/09/0504/28/0505/25/05$.55Regular Cash
02/14/0502/09/0502/28/05$.65Regular Cash
11/08/0410/28/0411/24/04$.50Regular Cash
08/09/0407/29/0408/25/04$.75Regular Cash
05/10/0404/29/0405/25/04$.25Regular Cash
02/09/0401/29/0402/25/04$.25Regular Cash

Disclaimer: Statements in this section that are not historical facts may be forward-looking and involve risks and uncertainties including, but not limited to, market prices for nitrogen and methanol products, the cost of natural gas, industry production levels, business cycles and weather.  Please refer to our most recent annual report for a complete discussion of risk factors.