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Inergy, L.P. lowers distribution following Suburban Propane transaction

Inergy, L.P. announced earlier this morning that it has declared the company’s quarterly cash distribution of 29c per limited partner unit, or $1.16 annually, for the quarter ended September 30 The distribution will be paid on November 14, to unitholders of record as of November 7. Inergy said it adjusted its annualized distribution from $1.50 to the current rate of $1.16 to reflect the distribution of the Suburban Propane Partners (SPH) common units to Inergy unitholders. SPH’s current annualized distribution is $3.41 per SPH unit. Inergy investors who received – and continue to own – the SPH common units distributed receive total annualized cash distributions of approximately $1.53 per Inergy unit, consisting of the $1.16 paid by Inergy and approximately 36.8 per Inergy unit paid by SPH directly to unitholders.