Sunoco LP Maintains Quarterly Distribution

Rhea-AI Summary

Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q4 2022, which annualizes to $3.3020. This distribution will be paid on February 21, 2023 to unitholders of record as of February 7, 2023. Sunoco LP operates in the motor fuel distribution sector, servicing approximately 10,000 convenience stores and dealers across over 40 U.S. states. Its general partner is owned by Energy Transfer LP (NYSE: ET). Additionally, all distributions to foreign investors will be subject to federal tax withholding at the highest effective rate as per Treasury Regulation.

Positive

• Quarterly distribution of $0.8255 per common unit for Q4 2022.
• Annualized distribution amount of $3.3020 per common unit.
• Solid operational base with distribution to 10,000 convenience stores in over 40 states.

Negative

• None.

DALLAS, Jan. 25, 2023 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("SUN") announced that the Board of Directors of its general partner declared a quarterly distribution for the fourth quarter of 2022 of $0.8255 per common unit or $3.3020 per common unit on an annualized basis. The distribution will be paid on February 21, 2023 to common unitholders of record on February 7, 2023.

About Sunoco LP

Sunoco LP (NYSE: SUN) is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located in more than 40 U.S. states and territories as well as refined product transportation and terminalling assets. 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

Scott Grischow

Treasurer, Sr. Vice President – Investor Relations and Mergers & Acquisitions

(214) 840-5660, scott.grischow@sunoco.com

Matthew Kobler

Sr. Manager – Investor Relations

(214) 840-5604, matthew.kobler@sunoco.com

View original content:https://www.prnewswire.com/news-releases/sunoco-lp-maintains-quarterly-distribution-301730292.html

SOURCE Sunoco LP

FAQ

What is the quarterly distribution amount announced by Sunoco LP for Q4 2022?

Sunoco LP announced a quarterly distribution of $0.8255 per common unit for Q4 2022.

When will the distribution from Sunoco LP be paid to unitholders?

The distribution will be paid on February 21, 2023.

What is the annualized distribution per common unit for Sunoco LP?

The annualized distribution for Sunoco LP is $3.3020 per common unit.

What are the implications for foreign investors receiving distributions from Sunoco LP?

Distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate.