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Terra Nitrogen (NYSE: TNH ) has declared its cash distribution for 4Q 2012. The company will pay $3.63 per unit on Feb. 28 to holders of record as of Feb. 19. That payout is the lowest since February 2011, when it amounted to $1.36 per unit. The company paid between $4.00 and $4.53 in the four quarters of 2012. The current distribution, when annualized, results in a yield of 5.9% on the current unit price.
As a limited partnership, Terra Nitrogen's distributions depend on its operating performance.
The company is scheduled to post its Q4 and fiscal 2012 results after market close on Feb. 19.