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

Rhea-AI Summary

Sprague Resources LP (NYSE: SRLP) declared a cash distribution of $0.6675 per unit for Q3 2020, maintaining the previous quarter's rate. This translates to $2.67 on an annualized basis. The distribution will be paid on November 12, 2020, to unitholders recorded by November 6, 2020. Additionally, the company plans to release its unaudited financial results on November 5, 2020, followed by a conference call at 1:00 PM ET to discuss the results.

Positive

• Cash distribution maintained at $0.6675 per unit, signaling stability in financial performance.
• Scheduled release of Q3 2020 financial results and earnings call indicates transparency with investors.

Negative

• None.

Sprague announces a cash distribution of $0.6675 per unit

PORTSMOUTH, N.H., Oct. 26, 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 September 30, 2020, equivalent to the previous quarter. 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 third quarter of 2020.

The announced distribution will be paid on Thursday, November 12, 2020, to unitholders of record as of the close of business on November 6, 2020.

Unaudited Third Quarter 2020 Financial Results and Earnings Conference Call

Sprague will release its third quarter 2020 unaudited financial results before the opening of trading on the NYSE on Thursday, November 5, 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 1086741. 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/phdemj5a. 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.

IN WITNESS WHEREOF, the undersigned members of the Board of the Company have duly approved Third Quarter 2020 Distribution and Earnings Call announcement on November 3, 2020.

Beth A. Bowman

David C. Glendon

C. Gregory Harper

Ben J. Hennelly

Michael D. Milligan

Gary A. Rinaldi

Sally A. Sarsfield

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

FAQ

What is the cash distribution amount declared by Sprague Resources LP for Q3 2020?

Sprague Resources LP declared a cash distribution of $0.6675 per unit for Q3 2020.

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

The cash distribution will be paid on November 12, 2020, to unitholders of record as of November 6, 2020.

When will Sprague Resources LP release its Q3 2020 financial results?

Sprague Resources LP will release its Q3 2020 financial results on November 5, 2020.

What time is the earnings conference call for Sprague Resources LP?

The earnings conference call for Sprague Resources LP is scheduled for 1:00 PM ET on November 5, 2020.

How much is the annualized cash distribution for Sprague Resources LP?

The annualized cash distribution for Sprague Resources LP is $2.67 per unit.