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 first quarter 2014 of $0.6950 per common unit ($2.78 annualized) to be paid on May 15, 2014 to unit holders of record on May 9, 2014. This represents a 5 percent increase over the fourth quarter 2013 cash distribution of $0.6625 per common unit ($2.65 annualized) and a 21 percent increase over the first quarter 2013 cash distribution of $0.5725 per common unit ($2.29 annualized). This is the thirty-sixth successive quarter the Partnership has increased its distribution.
“We are pleased to announce our eighth consecutive quarter over quarter distribution increase of at least 5 percent,” 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 owners.”
The Partnership also announced that it will hold a conference call on Wednesday, May 7, 2014 at 8:30 a.m. ET (7:30 a.m. CT) to discuss its financial results for the first quarter 2014. Earnings are expected to be released after the market closes on Tuesday, May 6, 2014.
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 1-800-839-1156. International callers should dial 1-402-998-0972.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts