Suburban Propane Partners, L.P. Declares Quarterly Distribution of $0.30 per Common Unit

Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) announced a quarterly distribution of $0.30 per Common Unit for the period ended September 26, 2020, equating to an annualized rate of $1.20. The distribution is payable on November 10, 2020, for Unitholders recorded by November 3, 2020. The company operates in the energy sector, serving around 1.0 million customers from approximately 700 locations across 41 states.

Positive

• Quarterly distribution declared at $0.30 per Common Unit.
• Annualized distribution rate of $1.20 increases investor confidence.
• Serves approximately 1.0 million customers, indicating strong market presence.

Negative

• None.

WHIPPANY, N.J., Oct. 22, 2020 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, fuel oil and related products and services, as well as a marketer of natural gas and electricity, today announced that its Board of Supervisors declared a quarterly distribution of $0.30 per Common Unit for the three months ended September 26, 2020. This quarterly distribution rate equates to an annualized rate of $1.20 per Common Unit. The distribution is payable on November 10, 2020 to Common Unitholders of record as of November 3, 2020.

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.

Suburban Propane Partners, L.P. is a publicly-traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban has been in the customer service business since 1928. The Partnership serves the energy needs of approximately 1.0 million residential, commercial, industrial and agricultural customers through approximately 700 locations in 41 states.

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SOURCE Suburban Propane Partners, L.P.

FAQ

What is the quarterly distribution announced by Suburban Propane Partners (SPH)?

Suburban Propane Partners declared a quarterly distribution of $0.30 per Common Unit.

When is the distribution for SPH payable?

The distribution is payable on November 10, 2020.

What is the annualized rate for the distribution of SPH?

The annualized distribution rate is $1.20 per Common Unit.

How many customers does Suburban Propane Partners serve?

Suburban Propane Partners serves approximately 1.0 million customers.

How many locations does SPH operate in?

Suburban Propane operates approximately 700 locations across 41 states.