VALLEY FORGE, Pa.--(BUSINESS WIRE)--Directors of AmeriGas Propane, Inc., general partner of AmeriGas Partners, L.P. (NYSE: APU), have declared a quarterly partnership distribution of $0.88 per limited partnership unit, payable May 19, 2014 to unitholders of record May 9, 2014.
The annualized distribution will increase to $3.52 per limited partnership unit from the current $3.36 per limited partnership unit, representing a 5% increase. This marks the 10th consecutive annual distribution increase.
Jerry Sheridan, chief executive officer of AmeriGas, said, “We are extremely proud of achieving this milestone, as our distribution increases represent tangible confirmation of our Company’s ability to build sustainable value for our stakeholders. This track record underscores AmeriGas’s ability to maintain its growth trajectory through challenging operating environments and economic cycles.”
AmeriGas is the nation’s largest retail propane marketer, serving over two million customers in all 50 states from over 2,500 distribution locations. UGI Corporation, through subsidiaries, is the sole General Partner and owns 26% of the Partnership. Heritage ETC, L.P., an affiliate of Energy Transfer Partners, L.P., owns 14% of the Partnership and the public owns the remaining 60%.
Comprehensive information about AmeriGas is available on the Internet at http://www.amerigas.com.
Nominees are hereby notified that they are responsible for withholding 35% of this distribution from foreign investors as required under Section 1446 of the Internal Revenue Code.