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Form 8-K SUBURBAN PROPANE PARTNER For: May 06
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Suburban Propane Partners, L P Declares Quarterly Distribution of $0 30 per Common Unit
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WHIPPANY, N.J., Feb. 4, 2021 /PRNewswire/
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 earnings for its first quarter ended December 26, 2020.
Net income for the first quarter of fiscal 2021 was $38.0 million, or $0.61 per Common Unit, compared to net income of $40.2 million, or $0.65 per Common Unit, in the prior year first quarter. Excluding the effects of non-cash items, including the equity in earnings of an unconsolidated affiliate and unrealized mark-to-market adjustments on derivative instruments in both years, adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA, as defined and reconciled below) amounted to $80.0 million for the first quarter of fiscal 2021, compared to $85.4 million in the prior year first quarter.
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WHIPPANY, N.J., Jan. 21, 2021 /PRNewswire/ 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 a quarterly distribution of $0.30 per Common Unit for the three months ended December 26, 2020. This quarterly distribution rate equates to an annualized rate of $1.20 per Common Unit. The distribution is payable on February 9, 2021 to Common Unitholders of record as of February 2, 2021.
Nominees are hereby notified that there is a withholding requirement at the highest applicable effective tax rates for foreign partners from the cash distribution under Section 1446 of the Internal Revenue Code.
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