Business Context and Reporting Period
This Form 8-K Current Report was filed by Suburban Propane Partners, L.P. on April 21, 2011. The filing serves to disclose the declaration of the Fiscal 2011 Second 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 and associated tax compliance notices.
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 second quarter of Fiscal 2011.
Guidance, Outlook, and Regulatory Matters
- Distribution Declaration: The Partnership announced its Fiscal 2011 Second Quarter Distribution Declaration via a press release furnished as Exhibit 99.1.
- Withholding Notice: 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 Withholding: All nominees are responsible for withholding 35% of the fiscal 2011 second 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 Press Release attached as 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 referenced press release.
- Ensure foreign investors are aware of the mandatory 35% withholding requirement on this specific distribution.