VALLEY FORGE, Pa.--(BUSINESS WIRE)--The Board of Directors of AmeriGas Propane, Inc., general partner of AmeriGas Partners, L.P. (NYSE: APU), has declared a quarterly partnership distribution of $0.95 per limited partnership unit, payable May 18, 2018 to unitholders of record May 10, 2018.
The annualized distribution will remain $3.80 per limited partnership unit. Jerry Sheridan, president and chief executive officer of AmeriGas, commented, “Our financial outlook is improving this year after two record warm years in 2016 and 2017. Rather than increase our distribution, we are choosing to maintain the distribution at its current level as a means of further supporting more solid distribution coverage as we improve our balance sheet for the long-term.”
AmeriGas is the nation’s largest retail propane marketer, serving over 1.8 million customers in all 50 states from approximately 1,900 distribution locations. UGI Corporation, through subsidiaries, is the sole General Partner and owns 26% of the Partnership and the public own the remaining 74%.
Comprehensive information about AmeriGas is available on the Internet at http://www.amerigas.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 AmeriGas 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 AmeriGas Partners, L.P. to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.