- Increases quarterly distribution to $0.8865, a 1.25% increase over the previous
quarter
- Targets 2025 distribution growth rate of at least 5%; future
increases will be announced quarterly
- Represents the third consecutive increase in annual
distribution growth rate
- Strong long-term financial outlook and track record of
delivering accretive growth provide a clear path for continued
multi-year distribution increases
DALLAS, Jan. 27,
2025 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("SUN" or
the "Partnership") announced that the Board of Directors of its
general partner declared a quarterly distribution for the fourth
quarter of 2024 of $0.8865 per common
unit or $3.5460 per common unit on an
annualized basis which represents a 1.25% increase over the
previous quarter.
The distribution will be paid on February
19, 2025 to common unitholders of record on February 7, 2025.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a leading energy infrastructure and
fuel distribution master limited partnership operating in over 40
U.S. states, Puerto Rico,
Europe, and Mexico. The Partnership's midstream operations
include an extensive network of approximately 14,000 miles of
pipeline and over 100 terminals. This critical infrastructure
complements the Partnership's fuel distribution operations, which
serve approximately 7,400 Sunoco and partner branded locations and
additional independent dealers and commercial customers. SUN's
general partner is owned by Energy Transfer LP (NYSE: ET).
Forward-Looking Statements
This news release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management's control. An extensive list of factors that can affect
future results, including future distribution levels, are discussed
in the Partnership's Annual Report on Form 10-K and other documents
filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or
revise any forward-looking statement to reflect new information or
events.
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, Senior Vice President – Finance
(214) 840-5660, scott.grischow@sunoco.com
Erik Gulbrandsen
Director – Investor Relations and Capital Markets
(214) 840-5684, erik.gulbrandsen@sunoco.com
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SOURCE Sunoco LP
