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

Rhea-AI Summary

Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the period ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit. The distribution will be paid on November 12, 2024, to unitholders of record as of November 5, 2024. The company operates as a nationwide distributor of propane and related products, serving approximately 1 million customers across 42 states through 700 locations. 100% of distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Positive

• Maintains consistent quarterly distribution of $0.325 per unit
• Large operational footprint with 700 locations across 42 states
• Diverse customer base of 1 million clients across multiple sectors

Negative

• None.

News Market Reaction

+0.48%

1 alert

+0.48% News Effect

On the day this news was published, SPH gained 0.48%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WHIPPANY, N.J., Oct. 24, 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 September 28, 2024. This quarterly distribution rate equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on November 12, 2024 to Common Unitholders of record as of November 5, 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.

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SOURCE Suburban Propane Partners, L.P.

FAQ

What is Suburban Propane's (SPH) quarterly distribution for Q4 2024?

Suburban Propane Partners declared a quarterly distribution of $0.325 per Common Unit for the three months ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit.

When is SPH's Q4 2024 distribution payable?

The distribution is payable on November 12, 2024, to Common Unitholders of record as of November 5, 2024.

How many locations does Suburban Propane (SPH) operate?

Suburban Propane operates approximately 700 locations across 42 states in the United States.