AmeriGas Partners L.P. will distribute a special payment of 25 cents per limited partner unit on Aug. 18 to unitholders on Aug. 10, the company's general partner, AmeriGas Propane Inc., said today.
The distribution assumes receipt of the proceeds from the pending sale of a propane storage terminal in Bumstead, Ariz. The sale is expected by June 30.
The special payment is in addition to the King of Prussia company's regular quarterly distribution, which also will be on Aug. 18. The rest of the funds from the terminal sale will be used for general corporate purposes.
AmeriGas Partners is a retail propane marketer, serving 1.3 million customers from 600 locations in 46 states. Its shares were up 14 cents to $37.94 in morning New York Stock Exchange trading.