Terra Nitrogen Company, L.P.
A CF Industries Company
Director, Investor Relations &
Terra Nitrogen Company, L.P.
Declares Cash Distribution
DEERFIELD, Ill., July 28,
2010 (BUSINESS WIRE) Terra Nitrogen Company, L.P. (TNCLP) (NYSE: TNH) today
declared a cash distribution for the quarter ended June 30, 2010, of $2.36
per common limited partnership unit payable August 25, 2010, to holders of
record as of August 10, 2010.
Cash distributions depend on TNCLPs
earnings, which can be affected by nitrogen selling prices, natural gas costs,
seasonal demand factors, production levels and weather, as well as cash
requirements for working capital needs and capital expenditures. Cash
distributions per limited partnership unit also vary based on increasing
amounts allocable to the General Partner when cumulative distributions exceed
targeted levels. With this distribution, TNCLP cumulative distributions exceed
TNCLP will report full second
quarter 2010 results on August 5, 2010.
Terra Nitrogen Company, L.P. is a
leading manufacturer of nitrogen fertilizer products.
This release serves a qualified
notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b).
Please note that 100 percent of the Partnerships distributions to foreign
investors are attributable to income that is effectively connected with a United
States trade or business. Accordingly, the Partnerships distributions to
foreign investors are subject to federal income tax withholding at the highest
effective tax rate.
Certain statements in this
communication may constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based upon assumptions as to future events that may not prove to
be accurate. Actual outcomes and results may differ materially from what is
expressed or forecasted in these forward-looking statements. As a result, these
statements speak only as of the date they were made and TNCLP undertakes no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as otherwise
required by law.
NITROGEN COMPANY, L.P. · 4 PARKWAY NORTH · SUITE 400
· DEERFIELD, IL 60015
WWW.CFINDUSTRIES.COM · 847/405-2515 · NYSE TICKER: TNH
Words such as expects, intends, plans,
projects, believes, estimates, and similar expressions are used to
identify these forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. These risks, uncertainties and
assumptions include, among others:
· the volatile cost of natural gas;
· the cyclical nature of our business;
· the global commodity nature of our fertilizer products, the impact of
global supply and demand on our selling prices, and the intense global
competition in the consolidating markets in which we operate;
· weather conditions;
· risks involving derivatives and the effectiveness of our risk measurement
and hedging activities;
· risks related to TNCLPs reliance on one production facility;
· potential liabilities and expenditures related to environmental and health
and safety laws and regulations;
· conditions in the U.S. agricultural industry;
· future regulatory restrictions and requirements related to GHG emissions,
climate change or other environmental requirements;
· CF and its affiliates engage in fertilizer manufacturing;
· dependence on CF and its employees;
· potential inability to renew our credit facility;
· deterioration of global market and economic conditions; and
· reliance on third party transportation providers.
Additional information as to these and
other factors can be found in TNCLPs 2009 10-K in the sections entitled Business,
Risk Factors, Legal Proceedings, and Managements Discussion and Analysis
of Financial Condition and Results of Operations and in the Notes to the
consolidated financial statements.
Company, L.P. news announcements are also available on CF Industries Web site,
SOURCE: Terra Nitrogen Company, L.P.
Terry Huch, 847-405-2515
Senior Director, Investor Relations & Corporate Communications