WHIPPANY, N.J., Jan. 25 /PRNewswire-FirstCall/ -- Suburban Propane
Partners, L.P. (NYSE: SPH), a marketer of propane gas, fuel oil and related
products and services nationwide, today announced that its Board of
Supervisors declared the twelfth increase (since the Partnership's
recapitalization in 1999) in the Partnership's quarterly distribution from
$0.6625 to $0.6875 per Common Unit for the three months ended December 30,
2006. The distribution equates to $2.75 per Common Unit annualized, an
increase of $0.10 per Common Unit from the previous distribution rate, and
is payable on February 13, 2007 to Common Unitholders of record as of
February 6, 2007. This increased distribution level represents a 12%
increase in the quarterly distribution rate since the first quarter of the
prior year.
In announcing the increase in the distribution rate, Chief Executive
Officer Mark A. Alexander said, "After considering a number of factors,
including the strength of earnings from the fiscal year just completed, our
Board has declared yet another increase in our quarterly distribution rate.
This increase demonstrates confidence in our ability to sustain an improved
base level of earnings."
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
1,000,000 residential, commercial, industrial and agricultural customers
through more than 300 locations in 30 states.
SOURCE Suburban Propane Partners, L.P.
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Related links:
http://suburbanpropane.com
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CONTACT:
Robert M. Plante, Vice President & Chief
Financial Officer, +1-973-503-9252
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