Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: October 20, 2011
Event: Declaration of the Fiscal 2011 Fourth Quarter Distribution.
Key Financial Metrics
This filing announces a distribution declaration but does not contain specific financial statements, revenue figures, profit margins, cash flow data, debt levels, or liquidity metrics. The filing text does not provide a clear value for the distribution amount per unit.
Material Changes
No material changes to financial performance or operations are detailed in this specific filing. The report focuses solely on the administrative declaration of the quarterly distribution and associated tax withholding requirements.
Guidance, Outlook, and Risks
Tax Withholding Notice: In accordance with Treasury Regulation 1.1446-4(d), the Partnership issued a qualified notice to the New York Stock Exchange. The distribution is classified as income effectively connected with a U.S. business (ECI).
Withholding Requirement: All nominees are responsible for withholding 35% of the fiscal 2011 fourth quarter distribution for 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 figure.
- Confirm the record date and payment date for the distribution in the full press release.
- Review the full text of the press release for any accompanying management commentary on fiscal year performance.
- Ensure foreign investors are aware of the mandatory 35% withholding on this specific distribution.