Sprague Resources LP Announces Cash Distribution for the Second Quarter of 2020 and Earnings Conference Call Schedule

Rhea-AI Summary

Sprague Resources LP has declared a cash distribution of $0.6675 per unit for the quarter ended June 30, 2020, equating to $2.67 on an annualized basis. This announcement reflects consistent quarterly distributions since Q2 2019. The cash distribution will be paid on August 10, 2020, to unitholders of record as of August 4, 2020. Furthermore, Sprague will release its unaudited second quarter financial results on August 6, 2020, followed by a conference call at 1:00 p.m. Eastern time to discuss these results.

Positive

• Quarterly distribution maintained at $0.6675 per unit, consistent since Q2 2019.
• Upcoming earnings call scheduled for August 6, 2020, providing insights into financial performance.

Negative

• None.

Sprague announces a cash distribution of $0.6675 per unit

PORTSMOUTH, N.H., July 24, 2020 (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 June 30, 2020 and is equal to distributions in each quarter since the second quarter of 2019.  Sprague also announced that Sprague Resources Holdings LLC, a wholly owned subsidiary of Axel Johnson Inc. and the owner of Sprague’s General Partner will receive cash, in respect of the incentive distribution rights payable in connection with the distribution for the second quarter of 2020.

The announced distribution will be paid on Monday, August 10, 2020, to unitholders of record as of the close of business on August 4, 2020.

Unaudited Second Quarter 2020 Financial Results and Earnings Conference Call

Sprague will release its second quarter 2020 unaudited financial results before the opening of trading on the NYSE on Thursday, August 6, 2020 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 4867387.  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/3bfzrfts. 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 Q2 2020?

Sprague Resources LP declared a cash distribution of $0.6675 per unit for the quarter ended June 30, 2020.

When will the cash distribution be paid to unitholders of Sprague Resources LP?

The cash distribution will be paid on August 10, 2020.

When will Sprague Resources LP release its Q2 2020 financial results?

Sprague Resources LP will release its second quarter 2020 unaudited financial results on August 6, 2020.

What time is the conference call for Sprague's Q2 2020 earnings discussion?

The conference call is scheduled for 1:00 p.m. Eastern time on August 6, 2020.