Sunoco Logistics Announces Third Consecutive 5 Percent Quarter over Quarter Distribution Increase an
Sunoco Logistics Announces Third Consecutive 5 Percent Quarter over Quarter Distribution Increase and Earnings Conference Call Date
The Partnership announces 33rdsuccessive quarterly distribution increase overall
PHILADELPHIA--(BUSINESS WIRE)-- Sunoco Logistics Partners L.P. (NYS: SXL) (the "Partnership") today announced that Sunoco Partners LLC, its general partner, has declared a cash distribution for the second quarter 2013 of $0.60 per common unit ($2.40 annualized) to be paid on August 14, 2013 to unit holders of record on August 8, 2013. This represents a 5 percent increase over the first quarter 2013 cash distribution of $0.5725 per common unit ($2.29 annualized) and a 28 percent increase over the second quarter 2012 cash distribution of $0.47 per common unit ($1.88 annualized). This represents the thirty-third successive quarter that the Partnership has increased its distribution.
"We are pleased to announce our third consecutive 5 percent quarter over quarter increase in our distribution," 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 Thursday, August 8, 2013 at 8:30 a.m. ET (7:30 a.m. CT) to discuss its financial results for the second quarter 2013. Earnings are expected to be released after the market closes on Wednesday, August 7, 2013.
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 two hours following the completion of the call. To access the replay, dial 1-800-406-7489. International callers should dial 1-203-369-3273.
ABOUT SUNOCO LOGISTICS
Sunoco Logistics Partners L.P. (NYS: SXL) , headquartered in Philadelphia, is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary crude oil and refined product pipeline, terminalling, and acquisition and marketing assets. SXL's general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYS: ETP) . For more information, visit the Sunoco Logistics Partners L.P. web site at www.sunocologistics.com.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of distributions by Sunoco Logistics Partners L.P. to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, distributions by Sunoco Logistics Partners L.P. to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Portions of this document constitute forward-looking statements as defined by federal law. Although Sunoco Logistics Partners L.P. believes that the assumptions underlying these statements are reasonable, investors are cautioned that such forward-looking statements are inherently uncertain and necessarily involve risks that may affect the Partnership's business prospects and performance causing actual results to differ from those discussed in the foregoing release. Such risks and uncertainties include, by way of example and not of limitation: whether or not the transactions described in the foregoing news release will be cash flow accretive; increased competition; changes in demand for crude oil and refined products that we store and distribute; changes in operating conditions and costs; changes in the level of environmental remediation spending; potential equipment malfunction; potential labor issues; the legislative or regulatory environment; plant construction/repair delays; nonperformance by major customers or suppliers; and political and economic conditions, including the impact of potential terrorist acts and international hostilities. These and other applicable risks and uncertainties have been described more fully in the Partnership's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2013, and in the Partnership's subsequent Form 8-K and 10-Q filings. The Partnership undertakes no obligation to update any forward-looking statements in this release, whether as a result of new information or future events.
Sunoco Logistics Partners L.P.
Peter Gvazdauskas (investors), 215-977-6322
Joseph McGinn (media), 215-977-3237
KEYWORDS: United States North America Pennsylvania
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