Business Context and Reporting Period
This Form 8-K Current Report was filed by Suburban Propane Partners, L.P. on July 23, 2009. The filing serves to disclose the declaration of the Fiscal 2009 Third Quarter Distribution and provides regulatory notice regarding withholding requirements for foreign investors.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the declaration of a distribution event rather than reporting comprehensive financial performance metrics.
Material Changes
No material changes to financial performance or operational status are detailed in this filing. The primary event is the announcement of the distribution declaration for the third quarter of Fiscal 2009.
Guidance, Outlook, and Regulatory Matters
- Distribution Declaration: The Partnership announced its Fiscal 2009 Third Quarter Distribution Declaration via a press release furnished as Exhibit 99.1.
- Withholding Requirements: In accordance with Treasury Regulation 1.1446-4(d), a qualified notice was issued to the New York Stock Exchange. This notice indicates that the distribution represents income effectively connected with a U.S. business (ECI).
- Foreign Investor Impact: All nominees are responsible for withholding 35% of the fiscal 2009 third quarter distribution from foreign investors (nonresident aliens, foreign corporations, foreign trusts, and foreign estates) as required under Section 1446 of the Internal Revenue Code.
Investor Verification Checklist
- Verify the specific distribution amount per unit by reviewing the attached Press Release (Exhibit 99.1), as the 8-K text does not state the numerical value.
- Confirm the record date and payment date for the Fiscal 2009 Third Quarter Distribution in the referenced press release.
- Ensure foreign investors are aware of the mandatory 35% withholding tax on this distribution due to its classification as Effectively Connected Income (ECI).