Star Group, L.P. Increases Quarterly Distribution to 13.25 Cents per Unit
April 22 2020 - 3:00PM
Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home
energy distributor and services provider, today announced that it
has increased its quarterly distribution for the three months ended
March 31, 2020 to $0.1325 per common unit from $0.1250 per common
unit.
- Record date: May 4, 2020
- Payment date: May 12, 2020
About Star Group, L.P.Star
Group, L.P. is a full service energy provider specializing in the
sale of home heating oil and propane to residential and commercial
customers primarily within the Northeast, Central and Southeast
United States. The Company also sells gasoline and diesel fuel as
well as installs, maintains, and repairs various heating and air
conditioning equipment; to a lesser extent, it provides these
ancillary services outside its product customer base, including
service contracts for natural gas and other heating systems. Star
is the nation's largest retail distributor of home heating oil
based upon sales volume. 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 effect of weather conditions on our financial performance; the
price and supply of the products 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
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
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, 2019.
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. 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
Associates203/328-7310
646/438-9385 or cwitty@darrowir.com
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