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 ending March 27, 2021. This results in an annualized distribution rate of $1.20 per Common Unit. The payment date is set for May 11, 2021, available to unitholders of record as of May 4, 2021. Nominees are informed about a withholding requirement for foreign partners according to IRS Section 1446. Suburban Propane operates across 41 states, providing diverse energy solutions since 1928.

Positive

• Quarterly distribution of $0.30 per Common Unit announced.
• Annualized distribution rate of $1.20 per Common Unit established.
• Distribution payout scheduled for May 11, 2021.

Negative

• None.

WHIPPANY, N.J., April 22, 2021 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE:SPH), today announced that its Board of Supervisors declared a quarterly distribution of $0.30 per Common Unit for the three months ended March 27, 2021. This quarterly distribution rate equates to an annualized rate of $1.20 per Common Unit. The distribution is payable on May 11, 2021 to Common Unitholders of record as of May 4, 2021.

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. ("Suburban Propane"), 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 over 1 million customers through 700 locations across 41 states. Suburban Propane is a New York Stock Exchange listed master limited partnership headquartered in Whippany, NJ, and has been in the customer service business since 1928. 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 March 2021?

Suburban Propane Partners, L.P. declared a quarterly distribution of $0.30 per Common Unit for the three months ended March 27, 2021.

When will the distribution be payable to common unitholders of Suburban Propane?

The distribution is payable on May 11, 2021, to common unitholders of record as of May 4, 2021.

What is the annualized distribution rate for Suburban Propane Partners, L.P.?

The annualized distribution rate for Suburban Propane Partners, L.P. is $1.20 per Common Unit.

What should foreign partners know about the cash distribution from Suburban Propane Partners, L.P.?

Foreign partners should be aware of a withholding requirement at the highest applicable effective tax rates under Section 1446 of the Internal Revenue Code.