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Suburban Propane Partners, L.P. (NYSE: SPH), headquartered in Whippany, New Jersey, is a leading nationwide marketer and distributor of propane, renewable propane, fuel oil, and other refined fuels. The company has been serving the energy needs of approximately 1 million residential, commercial, governmental, industrial, and agricultural customers through about 700 locations across 42 states since 1928.
Core Business: Suburban Propane specializes in providing propane, fuel oil, and refined fuels, along with marketing natural gas and electricity in deregulated markets such as New York and Pennsylvania. The company operates in three main segments: Propane, Fuel Oil and Refined Fuels, and Natural Gas and Electricity, with the Propane segment generating the maximum revenue.
Products and Services: Propane, known for its clean-burning properties, is used in residential and commercial markets for space heating, water heating, cooking, and clothes drying. Additionally, industrial customers utilize propane as a motor fuel, for powering engines, and in various process applications. In the agricultural sector, propane serves crucial functions such as tobacco curing, crop drying, and poultry brooding. Suburban Propane also sells, installs, and services heating systems, air conditioning units, and other energy-related equipment.
Environmental Commitment: As part of its commitment to a green energy future, Suburban Propane markets renewable propane and invests in low carbon fuel alternatives. The company's
Suburban Propane Partners (NYSE: SPH) announced on
Suburban Propane Partners, L.P. (NYSE: SPH) announced a quarterly distribution of $0.325 per Common Unit for the quarter ended March 25, 2023. This distribution translates to an annualized rate of $1.30 per Common Unit, payable on May 9, 2023, to Common Unitholders of record as of May 2, 2023.
The press release also specified that all distributions to foreign investors are subject to federal income tax withholding at the highest rate. Suburban Propane has been providing propane and related energy products since 1928, serving about 1 million customers across the U.S. from approximately 700 locations.
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