Sprague Resources LP Announces Cash Distribution for the First Quarter of 2021 and Earnings Conference Call Schedule

Rhea-AI Summary

Sprague Resources LP announced a cash distribution of $0.6675 per unit for the quarter ending March 31, 2021. This distribution is equivalent to an annualized rate of $2.67 per unit, matching all distributions from 2020. Payments will be made on May 10, 2021, to unitholders on record as of May 4, 2021. Additionally, Sprague will release its unaudited financial results on May 6, 2021, followed by an earnings conference call at 1:00 p.m. Eastern Time.

Positive

• Quarterly cash distribution of $0.6675 per unit matches 2020 levels.
• Annualized distribution rate remains at $2.67 per unit.

Negative

• None.

Sprague announces a cash distribution of $0.6675 per unit

PORTSMOUTH, N.H., April 23, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP (“Sprague”) (NYSE: SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the “General Partner”), declared a cash distribution of $0.6675 per unit ($2.67 per unit on an annualized basis) for the quarter ended March 31, 2021 and is equal to all distributions in 2020.

The announced distribution will be paid on Monday, May 10, 2021, to unitholders of record as of the close of business on May 4, 2021.

Unaudited First Quarter 2021 Financial Results and Earnings Conference Call

Sprague will release its first quarter 2021 unaudited financial results before the opening of trading on the NYSE on Thursday, May 6, 2021 and will host a conference call that day at 1:00 p.m. Eastern time to discuss its financial results. Those interested in hearing the discussion can access the call by dialing (866) 516-2130, and using participation code 8146978. International callers may join by dialing (678) 509-7612. Participants can dial in up to 30 minutes prior to the start of the call. The conference call may also be accessed live by webcast link: https://edge.media-server.com/mmc/p/ab6xfiyo

This link is also available on the "Investor Relations-Calendar of Events" page of Sprague's website at www.spragueenergy.com and will be archived on our website for one year. Certain non-GAAP financial information included in the earnings call will be available at the time of the call on the "Investor Relations – Featured Documents" section of Sprague’s website https://investors.spragueenergy.com.

*****

Qualified Notice
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Sprague’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Sprague’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

*****

About Sprague Resources LP
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The company also provides storage and handling services for a broad range of materials. More information concerning Sprague can be found at www.spragueenergy.com.

Investor Contact:
Paul Scoff
+1 800.225.1560
investorrelations@spragueenergy.com 

FAQ

What is the cash distribution amount declared by Sprague Resources LP for Q1 2021?

Sprague Resources LP declared a cash distribution of $0.6675 per unit for Q1 2021.

When will Sprague Resources LP pay the cash distribution?

The cash distribution will be paid on May 10, 2021.

What are the details of the upcoming earnings call for Sprague Resources LP?

The earnings call is scheduled for May 6, 2021, at 1:00 p.m. Eastern Time.

What is the annualized distribution rate for Sprague Resources LP as of April 2021?

The annualized distribution rate is $2.67 per unit.