SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 8, 1999
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BUCKEYE PARTNERS, L.P.
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(Exact name of Registrant specified in Charter)
Delaware 1-9356 23-2432497
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(State or Other (Commission (IRS Employee
Jurisdiction of File Number) Identification No.)
Incorporation)
3900 Hamilton Boulevard
Allentown, Pennsylvania 18103
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone, including area code: (610) 770-4700
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(Former Name and Former Address, if Changed Since Last Report)
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Item 5. Other Events.
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On November 8, 1999, Buckeye Pipe Line Company, the general partner of Buckeye
Partners, L.P. (NYSE:BPL) announced an increase of $.20 per Limited
Partnership Unit ($.05 per quarter) in the annual limited partnership
distributions to an indicated annual distribution of $2.40 per Limited
Partnership Unit, effective with the fourth quarter distribution to be paid in
February, 2000.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits.
Exhibit No. Exhibit
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99.1 Press release, dated November 8, 1999
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Signature
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BUCKEYE PARTNERS, L.P.
By: Buckeye Pipe Line Company,
Its General Partner
By: /s/ Stephen C. Muther
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Name: Stephen C. Muther
Title: Senior Vice President, Administration,
General Counsel and Secretary
Exhibit 99.1
Buckeye Partners, L.P.
3900 Hamilton Boulevard
Allentown, Pennsylvania
18103
(800) 422-2825
Contact: Thomas B. Dornblaser
Manager, Investor Relations
News Release
New York Stock Exchange (BPL) FOR IMMEDIATE RELEASE
November 8, 1999
BUCKEYE PARTNERS, L.P. ANNOUNCES INCREASE IN DISTRIBUTION
Allentown, PA November 8, 1999 . . .Buckeye Pipe Line Company,
the general partner of Buckeye Partners, L.P., today announced an
increase of $.20 per Limited Partnership Unit ($.05 per quarter)
in the annual limited partnership distributions to an indicated
annual distribution of $2.40 per Limited Partnership Unit,
effective with the fourth quarter distribution to be paid in
February 2000. This increase reflects the strong financial
performance of the Partnership's operations in the year to date,
and the General Partner's expectations that such strong operating
performance will continue into 2000 and beyond.
The General Partner also announced that it would continue its
existing program to purchase Limited Partnership Units for its own
account on the open market from time to time.
This press release includes forward looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Although the General
Partner believes that its expectations are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize.
Buckeye Partners, L.P., through its subsidiary partnerships, is
one of the nation's largest independent pipeline common carriers
of refined petroleum products with nearly 3,500 miles of pipeline
operating in 10 states. In addition, the Partnership owns
transmix refineries in Pennsylvania and Illinois, and operates
pipelines under agreement with major oil and chemical companies.
