Suburban Propane Partners, L.P. Declares Increase in Annualized Distribution Rate to $3.40 per Common Unit

Oct 21, 2010, 07:45 ET from Suburban Propane Partners, L.P.

WHIPPANY, N.J., Oct. 21 /PRNewswire-FirstCall/ -- 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 Partnership's recapitalization in 1999) in the Partnership's quarterly distribution from $0.845 to $0.85 per Common Unit for the three months ended September 25, 2010. This represents the Partnership's 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.

SOURCE Suburban Propane Partners, L.P.