Star Group, L.P. Declares Quarterly Distribution of 16.25 Cents per Unit
January 11 2024 - 12:00PM
Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home
energy distributor and services provider, today declared its
quarterly distribution of $0.1625 per common unit for the three
months ended December 31, 2023.
- Record date: January 22, 2024
- Payment date: January 31, 2024
About Star Group, L.P.Star
Group, L.P. is a full service provider specializing in the sale of
home heating products and services to residential and commercial
customers to heat their homes and buildings. The Company also sells
and services heating and air conditioning equipment to its home
heating oil and propane customers and, to a lesser extent, provides
these offerings to customers outside of its home heating oil and
propane customer base. Star also sells diesel, gasoline and home
heating oil on a delivery only basis. We believe Star is the
nation's largest retail distributor of home heating oil based upon
sales volume. Including its propane locations, Star serves
customers in the more northern and eastern states within the
Northeast and Mid-Atlantic U.S. regions. Additional information is
available by obtaining the Company's SEC filings at www.sec.gov and
by visiting Star's website at www.stargrouplp.com, where unit
holders may request a hard copy of Star’s complete audited
financial statements free of charge.
Forward Looking InformationThis
news release includes "forward-looking statements" which represent
the Company’s expectations or beliefs concerning future events that
involve risks and uncertainties, including the impact of
geopolitical events on wholesale product cost volatility, the price
and supply of the products that we sell, our ability to purchase
sufficient quantities of product to meet our customer’s needs,
rapid increases in levels of inflation, the consumption patterns of
our customers, our ability to obtain satisfactory gross profit
margins, the effect of weather conditions on our financial
performance, our ability to obtain new customers and retain
existing customers, our ability to make strategic acquisitions, the
impact of litigation, natural gas conversions and electrification
of heating systems, pandemic and future global health pandemics,
recessionary economic conditions, future union relations and the
outcome of current and future union negotiations, the impact of
current and future governmental regulations, including climate
change, environmental, health, and safety regulations, the ability
to attract and retain employees, customer credit worthiness,
counterparty credit worthiness, marketing plans, cyber-attacks,
global supply chain issues, labor shortages and new technology,
including alternative methods for heating and cooling residences.
All statements other than statements of historical facts included
in this news release are forward-looking statements. Without
limiting the foregoing, the words "believe," "anticipate," "plan,"
"expect," "seek," "estimate" and similar expressions are intended
to identify forward-looking statements. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct and actual results may differ
materially from those projected as a result of certain risks and
uncertainties. These risks and uncertainties include, but are not
limited to, those set forth under the heading "Risk Factors" and
"Business Strategy" in our Annual Report on Form 10-K (the "Form
10-K") for the fiscal year ended September 30, 2023. Important
factors that could cause actual results to differ materially from
the Company’s expectations ("Cautionary Statements") are disclosed
in this news release and in the Company’s Form 10-K and our
Quarterly Reports on Form 10-Q. All subsequent written and oral
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
the Cautionary Statements. Unless otherwise required by law, the
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this news release.
CONTACT: |
|
|
Star Group |
|
Chris Witty |
Investor Relations |
|
Darrow Associates |
203/328-7310 |
|
646/438-9385 or cwitty@darrowir.com |
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