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Suburban Propane Partners, L.P. Declares Quarterly Distribution of $0.325 per Common Unit

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Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the period ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit. The distribution will be paid on November 12, 2024, to unitholders of record as of November 5, 2024. The company operates as a nationwide distributor of propane and related products, serving approximately 1 million customers across 42 states through 700 locations. 100% of distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Suburban Propane Partners (NYSE:SPH) ha dichiarato una distribuzione trimestrale di $0,325 per Unità Comune per il periodo conclusosi il 28 settembre 2024, equivalente a un tasso annualizzato di $1,30 per Unità Comune. La distribuzione sarà effettuata il 12 novembre 2024, ai possessori di unità registrati entro il 5 novembre 2024. L'azienda opera come distributore nazionale di propano e prodotti correlati, servendo circa 1 milione di clienti in 42 stati attraverso 700 punti vendita. Il 100% delle distribuzioni a investitori stranieri è soggetto a ritenuta fiscale federale al tasso d'imposta effettivo più elevato applicabile.

Suburban Propane Partners (NYSE:SPH) ha declarado una distribución trimestral de $0.325 por Unidad Común para el período que finalizó el 28 de septiembre de 2024, equivalente a una tasa anualizada de $1.30 por Unidad Común. La distribución se pagará el 12 de noviembre de 2024, a los tenedores de unidades registrados hasta el 5 de noviembre de 2024. La empresa opera como distribuidor nacional de propano y productos relacionados, sirviendo a aproximadamente 1 millón de clientes en 42 estados a través de 700 ubicaciones. El 100% de las distribuciones a inversores extranjeros están sujetas a retención de impuesto sobre la renta federal a la tasa impositiva efectiva más alta aplicable.

서브어반 프로페인 파트너스 (NYSE:SPH)는 2024년 9월 28일로 종료된 분기에 대해 일반 단위당 $0.325의 분배를 선언하였으며, 이는 일반 단위당 연환산 $1.30에 해당합니다. 이 분배금은 2024년 11월 12일에, 2024년 11월 5일 기준으로 등록된 유닛 보유자에게 지급됩니다. 이 회사는 700개 지역을 통해 42개 주에서 약 100만 고객에게 서비스를 제공하는 프로판 및 관련 제품의 전국 유통업체로 운영됩니다. 외국인 투자자에 대한 모든 분배금은 가장 높은 적용 세율로 연방 소득세 원천징수를 받습니다.

Suburban Propane Partners (NYSE:SPH) a déclaré une distribution trimestrielle de 0,325 $ par Unité Commune pour la période se terminant le 28 septembre 2024, ce qui équivaut à un taux annualisé de 1,30 $ par Unité Commune. La distribution sera effectuée le 12 novembre 2024, pour les détenteurs d'unités enregistrés au 5 novembre 2024. L'entreprise opère comme distributeur national de propane et de produits connexes, servant environ 1 million de clients dans 42 États à travers 700 emplacements. 100 % des distributions destinées aux investisseurs étrangers sont soumises à une retenue d'impôt fédérale au taux d'imposition effectif le plus élevé applicable.

Suburban Propane Partners (NYSE:SPH) hat eine vierteljährliche Ausschüttung von 0,325 $ pro Stammanteil für den Zeitraum bis zum 28. September 2024 erklärt, was einer annualisierten Rate von 1,30 $ pro Stammanteil entspricht. Die Ausschüttung wird am 12. November 2024 an die Einheiteninhaber ausgezahlt, die am 5. November 2024 im Aktienregister stehen. Das Unternehmen operiert als landesweiter Distributor von Propan und verwandten Produkten und bedient rund 1 Million Kunden in 42 Bundesstaaten über 700 Standorte. 100% der Ausschüttungen an ausländische Investoren unterliegen der federalen Einkommenssteuer mit der höchsten anwendbaren effektiven Steuerquote.

Positive
  • Maintains consistent quarterly distribution of $0.325 per unit
  • Large operational footprint with 700 locations across 42 states
  • Diverse customer base of 1 million clients across multiple sectors
Negative
  • None.

Insights

The quarterly distribution of $0.325 per unit remains unchanged from previous quarters, maintaining an annualized yield of approximately 8.7% based on current unit price. This consistent payout demonstrates SPH's stable cash flow generation despite seasonal fluctuations in the propane distribution business. The distribution coverage ratio and balance sheet metrics will be key to monitor in upcoming earnings to assess sustainability. While the propane industry faces long-term headwinds from electrification trends, SPH's diversification into renewable energy and RNG provides potential growth avenues. The tax treatment notice for foreign investors indicates the distribution exceeds cumulative net income, which requires careful consideration for tax planning.

WHIPPANY, N.J., Oct. 24, 2024 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE:SPH), today announced that its Board of Supervisors declared a quarterly distribution of $0.325 per Common Unit for the three months ended September 28, 2024. This quarterly distribution rate equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on November 12, 2024 to Common Unitholders of record as of November 5, 2024.

This press release serves as qualified notice to brokers and nominees as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100% of Suburban Propane Partners, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Suburban Propane Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate without exception. Regarding the amount realized pursuant to 1.1446(f)-4(c)(2)(iii), 100% of the distribution is in excess of cumulative net income. Brokers and nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

About Suburban Propane Partners, L.P.
Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states. Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 95-year legacy, and ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives. For additional information on Suburban Propane, please visit www.suburbanpropane.com.

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SOURCE Suburban Propane Partners, L.P.

FAQ

What is Suburban Propane's (SPH) quarterly distribution for Q4 2024?

Suburban Propane Partners declared a quarterly distribution of $0.325 per Common Unit for the three months ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit.

When is SPH's Q4 2024 distribution payable?

The distribution is payable on November 12, 2024, to Common Unitholders of record as of November 5, 2024.

How many locations does Suburban Propane (SPH) operate?

Suburban Propane operates approximately 700 locations across 42 states in the United States.

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