Suburban Propane Partners (SPH) hikes dividend by 7.7%
Suburban Propane Partners (SPH) announced a 7.7% increase in its quarterly distribution from $0.325 to $0.35 per unit on October 22, 2026. This marks the partnership's first distribution hike since 2021, ending four consecutive years without an increase. The new annualized payout of $1.40 per unit represents a distribution yield of approximately 7.9%.
As of October 26, 2026, Suburban Propane Partners traded at $17.80 per unit, representing a distribution yield of approximately 7.9%. The ex-dividend date is November 3, 2026, with payment scheduled for November 10, 2026.
Suburban Propane Dividend History: First Increase Since 2021
Suburban Propane Partners has resumed distribution growth after keeping its quarterly payout unchanged from 2022 through 2025. The latest 7.7% increase follows four years without a hike, while the previous increase amounted to 8.3% in 2021.
The partnership's five-year distribution compound annual growth rate (CAGR) stands at 1.5%, compared with a negative 8.9% ten-year CAGR.
Suburban Propane Partners' distribution history includes a 50.0% cut in 2020, followed by an 8.3% increase in 2021. The quarterly distribution subsequently remained unchanged for four consecutive years, before the latest 7.7% increase in October 2026.
The new quarterly payment of $0.35 per unit represents an increase of $0.025 per quarter, or $0.10 annually, compared with the previous distribution. The annualized payout has therefore increased from $1.30 to $1.40 per unit.
Despite the latest increase, the longer-term distribution growth record remains negative over ten years, with a CAGR of -8.9%. Over the past five years, the compound annual growth rate stands at 1.5%.
SPH Distribution Yield and Unit Price Performance
As of October 26, 2026, Suburban Propane Partners units had gained 0.6% year-to-date, trading at $17.80. The partnership's market capitalization stood at approximately $1.2 billion.
Based on the new annualized distribution of $1.40 per unit, SPH's distribution yield stands at approximately 7.9% at the October 26 price.
Suburban Propane Partners is a US energy distribution partnership specializing in propane, fuel oil and related energy services for residential, commercial, industrial and agricultural customers.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.