WHIPPANY, N.J., May 15, 2002 /PRNewswire-FirstCall via COMTEX/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a leading marketer of propane gas and related products and services nationwide, today announced an increase in its quarterly distribution from $0.5625 to $0.5750 per Common Unit, payable on August 13, 2002 to the Common Unitholders of record as of August 6, 2002. On an annualized basis, the distribution will increase from $2.25 to $2.30 per Common Unit.
In making the announcement, President and Chief Executive Officer Mark A. Alexander said, "We are extremely pleased to announce our sixth distribution increase in three years. Our proven success in managing our cost structure and cash flow through one of the warmest heating seasons on record, coupled with our confidence in the future prospects for growth, allows us to deliver yet another increase to the quarterly distribution. Our history of steady distribution increases is proof of our commitment to providing continued value and growth opportunities to our Unitholders."
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 and is the nation's third largest propane gas marketer. The Partnership serves over 800,000 residential, commercial, industrial and agricultural customers through approximately 330 customer service centers in more than 40 states. Corporate news, unit prices and additional information about Suburban are available 24 hours a day, 7 days a week on the company's web site: http://www.suburbanpropane.com. To receive news releases via fax: Dial 800-758-5804 and input extension 112074.
SOURCE Suburban Propane Partners, L.P.
CONTACT: Robert M. Plante, Vice President - Finance & Treasurer, of Suburban Propane Partners, L.P., +1-973-503-9252 /Company News On-Call: http://www.prnewswire.com/comp/112074.html URL: http://suburbanpropane.com http://www.prnewswire.com
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