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8-K - FORM 8-K - SUBURBAN PROPANE PARTNERS LP | c07121e8vk.htm |
Exhibit 99.1
News Release
Contact: Michael Stivala
Chief Financial Officer
P.O. Box 206, Whippany, NJ 07981-0206
Phone: 973-503-9252
Contact: Michael Stivala
Chief Financial Officer
P.O. Box 206, Whippany, NJ 07981-0206
Phone: 973-503-9252
FOR IMMEDIATE RELEASE
Suburban Propane Partners, L.P. Declares
Increase in Annualized Distribution Rate
to $3.40 per Common Unit
Increase in Annualized Distribution Rate
to $3.40 per Common Unit
Whippany, New Jersey, October 21, 2010 Suburban Propane Partners, L.P. (NYSE:SPH), a nationwide
distributor of propane, fuel oil and related products and services, as well as a marketer of
natural gas and electricity, today announced that its Board of Supervisors declared the
27th increase (since the Partnerships recapitalization in 1999) in the Partnerships
quarterly distribution from $0.845 to $0.85 per Common Unit for the three months ended September
25, 2010. This represents the Partnerships 18th consecutive increase in the quarterly
distribution rate, which equates to an annualized rate of $3.40 per Common Unit, an increase of
$0.02 per Common Unit from the previous distribution rate, and a growth rate of 2.4% compared to
the fourth quarter of fiscal 2009. The distribution at this increased rate is payable on November
9, 2010 to Common Unitholders of record as of November 2, 2010.
Suburban Propane Partners, L.P. is a publicly-traded master limited partnership listed on the New
York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban has been in the customer
service business since 1928. The Partnership serves the energy needs of approximately 800,000
residential, commercial, industrial and agricultural customers through more than 300 locations in
30 states.
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