Sunoco Logistics Announces Second Consecutive 5 Percent Quarter Over Quarter
The Partnership announces 32^nd successive quarterly distribution increase
PHILADELPHIA -- April 23, 2013
Sunoco Logistics Partners L.P. (NYSE: SXL) (the “Partnership”) today announced
that Sunoco Partners LLC, its general partner, has declared a cash
distribution for the first quarter 2013 of $0.5725 per common unit ($2.29
annualized) to be paid on May 15, 2013 to unit holders of record on May 9,
2013. This represents a 5 percent increase over the fourth quarter 2012 cash
distribution of $0.5450 per common unit ($2.18 annualized) and a 34 percent
increase over the first quarter 2012 cash distribution of $0.4275 per common
unit ($1.71 annualized). This represents the thirty-second successive quarter
the partnership has increased its distribution.
“We are pleased to announce our second 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.”
ABOUT SUNOCO LOGISTICS
Sunoco Logistics Partners L.P. (NYSE: 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 owned by Energy Transfer Partners, L.P.
(NYSE: 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 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
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