Sunoco LP (SUN) Raises Quarterly Dividend 4% to $0.8756 ; Completes Acquisition of NuStar Energy L.P.

Sunoco LP (NYSE: SUN) declared a quarterly dividend of $0.8756 per share, or $3.5024 annualized. This is a 4% increase from the prior dividend of $0.8420.

The dividend will be payable on May 30, 2024, to stockholders of record on May 13, 2024, with an ex-dividend date of May 10, 2024.

The annual yield on the dividend is 6.3 percent.

Sunoco LP (NYSE: SUN) ("Sunoco") announced the completion of the acquisition of NuStar Energy L.P. ("NuStar") and a 4% increase in its quarterly distribution.

NuStar Energy Acquisition

Sunoco announced the completion of the acquisition of NuStar. The merger was approved by NuStar unitholders at its Special Meeting held on May 1, 2024. Effective as of the opening of markets on May 3, 2024, NuStar's common units ceased trading on the New York Stock Exchange.

The completion of this transaction increases Sunoco's stability and credit profile, strengthens its financial foundation, and enhances its ability to grow. Sunoco expects to realize at least $150 million of expense and commercial synergies. In addition, Sunoco expects at least $50 million per year of additional cash flow from refinancing activity. Sunoco expects the transaction to be immediately accretive to distributable cash flow per LP unit, growing to greater than 10% accretion by the third year following close.

For a dividend history and other dividend-related data on Sunoco LP (SUN) click here.

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