Star Gas Partners, L.P. Declares Quarterly Distribution of 11 Cents per Unit
October 12 2017 - 10:00AM
Star Gas Partners, L.P. (the “Partnership” or “Star”) (NYSE:SGU), a
home energy distributor and services provider, today declared its
quarterly distribution of $0.11 per common unit for the fiscal 2017
fourth quarter ended September 30, 2017.
- Record date: October 23, 2017
- Payment date: October 31, 2017
This announcement is intended to be a qualified
notice to nominees under Treasury Regulation Sections 1.1446 and
1.1441, with 100 percent of the partnership's distributions to
foreign unitholders attributable to income that is effectively
connected with a United States trade or business.
Accordingly, the partnership's distributions to foreign unitholders
are subject to federal income tax withholding at the highest
effective tax rate. Nominees, and not Star Gas Partners L.P., are
treated as the withholding agents responsible for withholding on
the distributions received by them on behalf of foreign
unitholders.
About Star Gas Partners,
L.P.
Star Gas Partners, 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 Partnership 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 Partnership
provides home security and plumbing services primarily to its home
heating oil and propane customer base. Star also sells diesel fuel,
gasoline and home heating oil on a delivery only basis. 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 Partnership's SEC filings
at www.sec.gov and by visiting Star's website at www.star-gas.com,
where unit holders may request a hard copy of Star's complete
audited financial statements free of charge.
Forward Looking Information
This news release includes "forward-looking
statements" which represent the Partnership's expectations or
beliefs concerning future events that involve risks and
uncertainties, including those associated with 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
environmental, health and safety regulations; the ability to
attract and retain employees; customer creditworthiness;
counterparty creditworthiness; marketing plans; 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 Partnership 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, 2016 and under
the heading "Risk Factors" in our Quarterly Reports on Form 10-Q
(the "Form 10-Q"). Important factors that could cause actual
results to differ materially from the Partnership's expectations
("Cautionary Statements") are disclosed in this news release and in
the Form 10-Q and Form 10-K. All subsequent written and oral
forward-looking statements attributable to the Partnership or
persons acting on its behalf are expressly qualified in their
entirety by the Cautionary Statements. Unless otherwise
required by law, the Partnership 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 Gas PartnersInvestor
Relations203/328-7310
Chris WittyDarrow Associates646/438-9385 or
cwitty@darrowir.com
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