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

Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) announced a quarterly distribution of $0.325 per Common Unit for the period ending December 25, 2021. This equates to an annualized rate of $1.30. The distribution is set to be paid on February 8, 2022, to unitholders of record as of February 1, 2022. The press release also notes a withholding tax requirement for foreign partners under Section 1446 of the Internal Revenue Code.

Positive

• Quarterly distribution of $0.325 per Common Unit, demonstrating financial stability.
• Annualized distribution rate of $1.30, appealing to investors.

Negative

• Withholding requirement at the highest effective tax rates for foreign partners may deter some investors.

WHIPPANY, N.J., Jan. 20, 2022 /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 December 25, 2021. This quarterly distribution rate equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on February 8, 2022 to Common Unitholders of record as of February 1, 2022.

Nominees are hereby notified that there is a withholding requirement at the highest applicable effective tax rates for foreign partners from the cash distribution under Section 1446 of the Internal Revenue Code.

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, fuel oil and related products and services, as well as a marketer of natural gas and electricity and an 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 41 states.  Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 90+ 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 the 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 developing the next generation of renewable energy. For additional information on Suburban Propane, please visit www.suburbanpropane.com.

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SOURCE Suburban Propane Partners, L.P.

FAQ

What is the quarterly distribution declared by Suburban Propane Partners, L.P. for Q4 2021?

Suburban Propane Partners, L.P. declared a quarterly distribution of $0.325 per Common Unit for the three months ended December 25, 2021.

When is the distribution payable to unitholders of Suburban Propane?

The distribution is payable on February 8, 2022, to unitholders of record as of February 1, 2022.

What is the annualized distribution rate for Suburban Propane?

The annualized distribution rate for Suburban Propane is $1.30 per Common Unit.

Is there a tax implication for foreign partners receiving the distribution from Suburban Propane?

Yes, foreign partners are subject to a withholding requirement at the highest applicable effective tax rates under Section 1446 of the Internal Revenue Code.