Reuters reported that CNX Coal Resources LP, a master limited partnership (MLP) owned by Consol Energy (NYSE:CNX).
Reuters reported that CNX Coal Resources LP, a master limited partnership (MLP) owned by Consol Energy (NYSE:CNX).
As quoted in the publication:
CNX Coal’s initial assets are expected to consist of a 20 percent interest and operational control over Consol’s Pennsylvania mining complex, which consists of three underground mines, the company said in a statement.
MLPs have become increasingly popular as they distribute most of their cash flow as dividend.
CNX Coal’s revenue rose 21 percent to about $334 million in the year ended Dec. 31. The company’s net income rose about 30 percent to $84 million.
The filing had a nominal fundraising target of $250 million.
Click here to read the full article.