Standard Pacific L.P. to Make Cash Distribution

Standard Pacific L.P., a Costa Mesa home builder, said it will distribute its previously announced tax-exempt cash distribution of $3 per unit to qualified holders by April 3.

The disbursement will help holders of record as of March 17 to pay federal taxes related to the firm’s conversion late last year to a limited partnership, the company said.

Last month, through an offering of 1.6 million units, Standard Pacific set up a special fund of about $46 million to finance the distribution, a company official said.