Alon USA Partners is a variable distribution master limited partnership (MLP). As such, the partnership does not have a minimum quarterly distribution or a regular dividend. Alon USA Partners does not employ structures intended to consistently maintain or increase distributions over time. The amount of our quarterly distributions will vary significantly both quarterly and annually and will be directly dependent on the performance of the business.
The board of directors of our general partner has adopted a policy pursuant to which we will distribute all of the available cash we generate each quarter. We expect that available cash for each quarter will generally equal our cash flow from operations for the quarter, less cash needed for maintenance capital expenditures, debt service and other contractual obligations, and reserves for future operating or capital needs that the board of directors of our general partner deems necessary or appropriate, including reserves for our expenses in the quarters in which our planned turnarounds and catalyst replacement occur. As discussed in our public filings, there is no guarantee that unitholders will receive quarterly cash distributions from us.
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*As noted in the Alon Partners initial public offering prospectus, the cash available for its first distribution only included cash for the Post IPO Period. If the cash distribution was for the entire three months ended December 31, 2012, then the cash distribution would have been $1.92 per unit.