STOCK TITAN

Suburban Propane Partners, L.P. Declares Quarterly Distribution of $0.325 per Common Unit

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024. This equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.

Suburban Propane is a publicly traded master partnership listed on the NYSE. It's a nationwide distributor of propane, renewable propane, renewable natural gas, and related products, serving approximately 1 million customers through 700 locations across 42 states. The company focuses on customer service, community involvement, and promoting propane as a clean energy source.

Suburban Propane Partners (NYSE:SPH) ha dichiarato una distribuzione trimestrale di $0,325 per ogni Unità Comune per i tre mesi terminati il 29 giugno 2024. Questo equivale a un tasso annualizzato di $1,30 per Unità Comune. La distribuzione sarà pagabile il 13 agosto 2024 agli azionisti delle Unitò Comuni registrati al 6 agosto 2024.

Suburban Propane è una partnership master quotata in borsa, presente sul NYSE. È un distributore nazionale di propane, propane rinnovabile, gas naturale rinnovabile e prodotti correlati, servendo circa 1 milione di clienti tramite 700 sedi in 42 stati. L'azienda si concentra sul servizio ai clienti, sul coinvolgimento nella comunità e sulla promozione del propane come fonte di energia pulita.

Suburban Propane Partners (NYSE:SPH) ha declarado un reparto trimestral de $0.325 por Unidad Común para los tres meses finalizados el 29 de junio de 2024. Esto equivale a una tasa anualizada de $1.30 por Unidad Común. El reparto se pagará el 13 de agosto de 2024 a los titulares de Unidades Comunes registrados hasta el 6 de agosto de 2024.

Suburban Propane es una sociedad de responsabilidad limitada que cotiza públicamente en el NYSE. Es un distribuidor nacional de propano, propano renovable, gas natural renovable y productos relacionados, sirviendo aproximadamente a 1 millón de clientes a través de 700 localidades en 42 estados. La compañía se enfoca en el servicio al cliente, la participación comunitaria y la promoción del propano como fuente de energía limpia.

서버반 프로페인 파트너스 (NYSE:SPH)는 2024년 6월 29일 종료된 3개월 동안 주당 $0.325의 분배금을 선언했습니다. 이는 주당 연간 $1.30의 비율에 해당합니다. 이 분배금은 2024년 8월 13일2024년 8월 6일 기준으로 등록된 보통주 주주에게 지급됩니다.

서버반 프로페인은 NYSE에 상장된 공개 거래 마스터 파트너십입니다. 이는 프로판, 재생 프로판, 재생 자연가스 및 관련 제품의 전국 유통업체로, 약 100만 고객에게 42개 주의 700개 지점을 통해 서비스를 제공합니다. 이 회사는 고객 서비스, 지역 사회 참여 및 프로판을 청정 에너지원으로 홍보하는 데 중점을 두고 있습니다.

Suburban Propane Partners (NYSE:SPH) a annoncé une distribution trimestrielle de $0,325 par Unité Commune pour les trois mois se terminant le 29 juin 2024. Cela équivaut à un taux annualisé de $1,30 par Unité Commune. La distribution sera payable le 13 août 2024 aux détenteurs d'Unités Communes enregistrés au 6 août 2024.

Suburban Propane est un partenariat maître cotée en bourse sur le NYSE. C'est un distributeur national de propane, de propane renouvelable, de gaz naturel renouvelable et de produits connexes, desservant environ 1 million de clients à travers 700 sites dans 42 États. L'entreprise met l'accent sur le service client, l'engagement communautaire et la promotion du propane comme source d'énergie propre.

Suburban Propane Partners (NYSE:SPH) hat eine vierteljährliche Ausschüttung von $0,325 pro Stammanteil für die drei Monate bis zum 29. Juni 2024 erklärt. Dies entspricht einem annualisierten Satz von $1,30 pro Stammanteil. Die Ausschüttung ist am 13. August 2024 fällig an die Stammanteilinhaber, die am 6. August 2024 registriert sind.

Suburban Propane ist eine börsennotierte Master-Partnerschaft, die an der NYSE gelistet ist. Es ist ein landesweiter Distributor von Propan, erneuerbarem Propan, erneuerbarem Erdgas und verwandten Produkten, der etwa 1 Million Kunden über 700 Standorte in 42 Bundesstaaten bedient. Das Unternehmen konzentriert sich auf Kundenservice, Engagement in der Gemeinschaft und die Förderung von Propan als saubere Energiequelle.

Positive
  • Consistent quarterly distribution of $0.325 per Common Unit
  • Annualized distribution rate of $1.30 per Common Unit
  • Nationwide presence with 700 locations across 42 states
  • Diversified energy portfolio including renewable propane and RNG
Negative
  • None.

Insights

Suburban Propane Partners' quarterly distribution announcement, while routine, offers some insights into the company's financial health and shareholder value proposition. The $0.325 per Common Unit distribution, equating to an annualized rate of $1.30, suggests a commitment to maintaining steady returns for unitholders.

However, it's important to note that this distribution rate remains unchanged from previous quarters, indicating no growth in shareholder returns. For a master partnership (MLP) like Suburban Propane, distribution growth is often a key metric for investors. The static payout might raise questions about the company's ability to increase cash flows or expand its operations in the current market environment.

The 100% tax withholding for foreign investors is a standard practice for MLPs but could impact the stock's attractiveness to international investors. This tax treatment stems from the company's business structure and the nature of its income, which is considered effectively connected with a U.S. trade or business.

Interestingly, the disclosure that 100% of the distribution is in excess of cumulative net income warrants attention. This suggests that the company is paying out more than its current earnings, which could be unsustainable in the long term if not balanced by strong cash flows or strategic growth initiatives. Investors should closely monitor the company's upcoming financial reports to assess the sustainability of this distribution policy.

Suburban Propane's consistent quarterly distribution reflects stability in its core propane distribution business, but also highlights the challenges faced by traditional energy companies in a rapidly evolving sector. The company's diversification into renewable propane, RNG and low carbon fuel alternatives demonstrates an awareness of the industry's shifting landscape.

The company's footprint across 42 states with approximately 700 locations serving 1 million customers underscores its significant market presence. However, the energy sector is undergoing a transformation driven by environmental concerns and regulatory pressures. Suburban Propane's 'Go Green' initiative and investments in renewable energy alternatives are important steps in adapting to this changing environment.

The emphasis on customer service through the 'Suburban Commitment' pillar is noteworthy in an industry where reliability and flexibility are paramount. This focus could help maintain customer loyalty in a competitive market. However, the company's ability to balance traditional propane distribution with investments in green energy alternatives will be critical for long-term growth and sustainability.

Investors should keep an eye on how effectively Suburban Propane navigates the transition to cleaner energy sources while maintaining its core business. The company's success in scaling its renewable energy offerings and the impact on its financial performance will be key indicators of its future prospects in an increasingly environmentally conscious market.

WHIPPANY, N.J., July 25, 2024 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE:SPH), today announced that its Board of Supervisors declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024.  This quarterly distribution rate equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.

This press release serves as qualified notice to brokers and nominees as provided for under Treasury Regulation Section 1.1446-4(b).  Please note that 100% of Suburban Propane Partners, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business.  Accordingly, all of Suburban Propane Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate without exception.  Regarding the amount realized pursuant to 1.1446(f)-4(c)(2)(iii), 100% of the distribution is in excess of cumulative net income.  Brokers and nominees are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

About Suburban Propane Partners, L.P.
Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange.  Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states. Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 95-year legacy, and ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives.  For additional information on Suburban Propane, please visit www.suburbanpropane.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/suburban-propane-partners-lp-declares-quarterly-distribution-of-0-325-per-common-unit-302206282.html

SOURCE Suburban Propane Partners, L.P.

FAQ

What is the quarterly distribution amount for Suburban Propane Partners (SPH) in Q2 2024?

Suburban Propane Partners (SPH) has declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024.

When is the payment date for Suburban Propane's (SPH) Q2 2024 distribution?

The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.

What is the annualized distribution rate for Suburban Propane Partners (SPH) based on the Q2 2024 declaration?

The quarterly distribution rate of $0.325 per Common Unit equates to an annualized rate of $1.30 per Common Unit for Suburban Propane Partners (SPH).

How many customers does Suburban Propane Partners (SPH) serve as of July 2024?

Suburban Propane Partners (SPH) serves approximately 1 million residential, commercial, governmental, industrial, and agricultural customers through about 700 locations across 42 states.

Suburban Propane Partners L P

NYSE:SPH

SPH Rankings

SPH Latest News

SPH Stock Data

1.27B
58.64M
2.26%
36.59%
1.28%
Utilities - Regulated Gas
Retail-miscellaneous Retail
Link
United States of America
WIPPANY