Sunoco LP Maintains Quarterly Distribution

Rhea-AI Summary

Sunoco LP (NYSE: SUN) has announced that its Board of Directors has declared a quarterly distribution for the second quarter of 2024. The distribution will be $0.8756 per common unit, which equates to $3.5024 per common unit on an annualized basis. This distribution will be paid on August 19, 2024 to common unitholders of record as of August 9, 2024. The announcement indicates that Sunoco LP is maintaining its quarterly distribution, suggesting stability in its financial position and commitment to returning value to unitholders.

Positive

• Maintained quarterly distribution, indicating financial stability
• Consistent payout to unitholders at $0.8756 per common unit

Negative

• None.

News Market Reaction – SUN

+0.59%

1 alert

+0.59% News Effect

On the day this news was published, SUN gained 0.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DALLAS, July 25, 2024 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("SUN") announced that the Board of Directors of its general partner declared a quarterly distribution for the second quarter of 2024 of $0.8756 per common unit or $3.5024 per common unit on an annualized basis. The distribution will be paid on August 19, 2024 to common unitholders of record on August 9, 2024.

About Sunoco LP

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership's fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. SUN's general partner is owned by Energy Transfer LP (NYSE: ET).

Qualified Notice

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that one hundred percent (100%) of Sunoco LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Sunoco LP's distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Sunoco LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors. For purposes of Treasury Regulation section 1.1446(f)-4(c)(2)(iii), brokers and nominees should treat one hundred percent (100%) of the distributions as being in excess of cumulative net income for purposes of determining the amount to withhold.

Contacts

Investors:
Scott Grischow, Treasurer, Senior Vice President – Finance
(214) 840-5660, scott.grischow@sunoco.com

Media:
Chris Cho, Senior Manager – Communications
(210) 918-3953, chris.cho@sunoco.com

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SOURCE Sunoco LP

FAQ

What is Sunoco LP's (SUN) quarterly distribution for Q2 2024?

Sunoco LP's quarterly distribution for Q2 2024 is $0.8756 per common unit, which equates to $3.5024 per common unit on an annualized basis.

When will Sunoco LP (SUN) pay its Q2 2024 distribution?

Sunoco LP will pay its Q2 2024 distribution on August 19, 2024 to common unitholders of record on August 9, 2024.

Has Sunoco LP (SUN) changed its quarterly distribution amount?

No, Sunoco LP has maintained its quarterly distribution amount, indicating consistency in its payout to unitholders.

What is the annualized distribution rate for Sunoco LP (SUN) based on the Q2 2024 payout?

The annualized distribution rate for Sunoco LP is $3.5024 per common unit, based on the Q2 2024 quarterly payout of $0.8756 per unit.