Sunoco Logistics Announces Fourteenth Consecutive Quarter over Quarter Distribution Increase of 5 Percent and Earnings Conference Call Date
The Partnership announces 42nd successive
quarterly distribution increase overall
Sunoco Logistics Partners L.P. (NYSE: SXL) (the “Partnership”) today
announced that Sunoco Partners LLC, its general partner, has declared a
cash distribution for the third quarter 2015 of $0.458 per common unit
($1.83 annualized) to be paid on November 13, 2015 to unit holders of
record on November 09, 2015. This represents a 5 percent increase over
the second quarter 2015 cash distribution of $0.438 per common unit
($1.75 annualized) and a 20 percent increase over the third quarter 2014
cash distribution of $0.3825 per common unit ($1.53 annualized). This is
the forty-second successive quarter the Partnership has increased its
“We are pleased to announce another significant increase as we are in
our fourth year of growing our distribution 20 percent annually,” said
Michael J. Hennigan, president and chief executive officer. “We continue
to execute our strategy for growth. We are committed to growing stable,
ratable cash flow for the Partnership and distributing that cash to our
The Partnership also announced that it will hold a conference call on
Thursday, November 5, 2015 at 8:00 a.m. ET (7:00 a.m. CT) to discuss its
financial results for the third quarter 2015. Earnings are expected to
be released after the market closes on Wednesday, November 4, 2015.
Those wishing to listen can access the call by dialing (USA toll free)
1-800-369-2171; International (USA toll) 1-517-308-9315 and request
“Sunoco Logistics Partners Earnings Call, Conference Code: Sunoco
Logistics.” This event may also be accessed by a webcast, which will be
available at www.sunocologistics.com.
A number of presentation slides will accompany the audio portion of the
call and will be available to be viewed and printed shortly before the
call begins. Individuals wishing to listen to the call on the
Partnership’s web site will need Windows Media Player, which can be
downloaded free of charge from Microsoft or from Sunoco Logistics
Partners’ conference call page. Please allow at least fifteen minutes to
complete the download.
Audio replays of the conference call will be available for two weeks
after the conference call beginning approximately one hour following the
completion of the call. To access the replay, dial 1-866-467-2412.
International callers should dial 1-203-369-1448.
ABOUT SUNOCO LOGISTICS
Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Newtown
Square, Pennsylvania, is a master limited partnership that owns and
operates a logistics business consisting of a geographically diverse
portfolio of complementary crude oil, refined products, and natural gas
liquids pipeline, terminalling and acquisition and marketing assets
which are used to facilitate the purchase and sale of crude oil, refined
products, and natural gas liquids. SXL’s general partner is a
consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP).
For more information, visit the Sunoco Logistics Partners L.P. web site
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent (100%) of distributions by Sunoco Logistics Partners
L.P. to non-U.S. investors as being attributable to income that is
effectively connected with a United States trade or business.
Accordingly, distributions by Sunoco Logistics Partners L.P. to non-U.S.
investors are subject to federal income tax withholding at the highest
applicable effective tax rate.
Portions of this document constitute forward-looking statements as
defined by federal law. Although Sunoco Logistics Partners L.P. believes
that the assumptions underlying these statements are reasonable,
investors are cautioned that such forward-looking statements are
inherently uncertain and necessarily involve risks that may affect the
Partnership’s business prospects and performance causing actual results
to differ from those discussed in the foregoing release. Such risks and
uncertainties include, by way of example and not of limitation: whether
or not the transactions described in the foregoing news release will be
cash flow accretive; increased competition; changes in demand for crude
oil, refined products and natural gas liquids that we store and
distribute; changes in operating conditions and costs; changes in the
level of environmental remediation spending; potential equipment
malfunction; potential labor issues; the legislative or regulatory
environment; plant construction/repair delays; nonperformance by major
customers or suppliers; and political and economic conditions, including
the impact of potential terrorist acts and international hostilities.
These and other applicable risks and uncertainties have been described
more fully in the Partnership’s Annual Report on Form 10-K filed with
the Securities and Exchange Commission on February 26, 2015, and in the
Partnership’s subsequent Form 8-K and 10-Q filings. The Partnership
undertakes no obligation to update any forward-looking statements in
this release, whether as a result of new information or future events.
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Copyright Business Wire 2015
Source: Business Wire
(October 20, 2015 - 9:00 AM EDT)
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