Star Group, L.P. Declares Quarterly Distribution of 13.25 Cents per Unit
January 14 2021 - 12:45PM
Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home
energy distributor and services provider, today declared its
quarterly distribution of $0.1325 per common unit for the three
months ended December 31, 2020.
- Record date: January 25, 2021
- Payment date: February 2, 2021
About Star Group, L.P.Star
Group, L.P. is a full service provider specializing in the sale of
home heating products and services to residential and commercial
customers to heat their homes and buildings. The Company also sells
and services heating and air conditioning equipment to its home
heating oil and propane customers and, to a lesser extent, provides
these offerings to customers outside of its home heating oil and
propane customer base. In certain of Star's marketing areas, the
Company provides plumbing services, primarily to its home heating
oil and propane customer base. Star also sells diesel, gasoline and
home heating oil on a delivery only basis. We believe Star is the
nation's largest retail distributor of home heating oil based upon
sales volume. Including its propane locations, Star serves
customers in the more northern and eastern states within the
Northeast, Central and Southeast U.S. regions. Additional
information is available by obtaining the Company's SEC filings at
www.sec.gov and by visiting Star's website at www.stargrouplp.com,
where unit holders may request a hard copy of Star’s complete
audited financial statements free of charge.
Forward Looking InformationThis
news release includes "forward-looking statements" which represent
the Company’s expectations or beliefs concerning future events that
involve risks and uncertainties, including those associated with
the severity and duration of the novel coronavirus, or COVID-19,
pandemic, the pandemic’s impact on the U.S. and global economies,
the timing, scope and effectiveness of federal, state and local
governmental responses to the pandemic, the effect of weather
conditions on our financial performance; the price and supply of
the products that we sell; the consumption patterns of our
customers; our ability to obtain satisfactory gross profit margins;
our ability to obtain new customers and retain existing customers;
our ability to make strategic acquisitions; the impact of
litigation; our ability to contract for our current and future
supply needs; natural gas conversions; future union relations and
the outcome of current and future union negotiations; the impact of
current and future governmental regulations, including climate
change, environmental, health and safety regulations; the ability
to attract and retain employees; customer creditworthiness;
counterparty creditworthiness; marketing plans; potential
cyber-attacks; general economic conditions and new technology. All
statements other than statements of historical facts included in
this news release are forward-looking statements. Without limiting
the foregoing, the words "believe," "anticipate," "plan," "expect,"
"seek," "estimate" and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will
prove to be correct and actual results may differ materially from
those projected as a result of certain risks and uncertainties.
These risks and uncertainties include, but are not limited to,
those set forth under the heading "Risk Factors" and "Business
Strategy" in our Annual Report on Form 10-K (the "Form 10-K") for
the fiscal year ended September 30, 2020. Important factors that
could cause actual results to differ materially from the Company’s
expectations ("Cautionary Statements") are disclosed in this news
release and in the Form 10-K and our Quarterly Reports on Form
10-Q. Currently, one of the most significant factors, however, is
the potential adverse effect of the pandemic of the novel
coronavirus, or COVID-19, on the financial condition, results of
operations, cash flows and performance of the Company and its
customers and counterparties and the global economy and financial
markets. The extent to which COVID-19 impacts us and our customers
will depend on future developments, which are highly uncertain and
cannot be predicted with confidence, including the scope, severity
and duration of the pandemic, the actions taken to contain the
pandemic or mitigate its impact, and the direct and indirect
economic effects of the pandemic and containment measures, among
others. All subsequent written and oral forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by the Cautionary Statements.
Unless otherwise required by law, the Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise
after the date of this news release.
CONTACT: |
Star
Group |
Chris
Witty |
Investor Relations |
Darrow Associates |
203/328-7310 |
646/438-9385 or cwitty@darrowir.com |
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