Star Group, L.P. Declares Quarterly Distribution of 14.25 Cents per Unit
January 13 2022 - 11:46AM
Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home
energy distributor and services provider, today declared its
quarterly distribution of $0.1425 per common unit for the three
months ended December 31, 2021.
- Record date: January 24, 2022
- Payment date: February 1, 2022
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 and Mid-Atlantic 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; cyber-attacks;
inflation; global supply chain issues; labor shortages; 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, 2021. 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 Company’s 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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