Sunoco Completes Acquisition of NuStar Energy; Raises Quarterly Distribution-February 2024-www.financetom.com

Sunoco Completes Acquisition of NuStar Energy; Raises Quarterly Distribution

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Sunoco Completes Acquisition of NuStar Energy; Raises Quarterly Distribution

May 3, 2024 7:41 AM

10:19 AM EDT, 05/03/2024 (MT Newswires) -- Sunoco ( SUN ) said Friday it has completed the acquisition of NuStar Energy ( NS ).

NuStar's units will stop trading on the New York Stock Exchange, effective May 3.

Sunoco ( SUN ) said it expects the acquisition to be immediately accretive to distributable cash flow per unit, the company added.

Additionally, the company raised its quarterly distribution 4% to $0.8756 per unit, payable May 20 to unitholders of record May 13.

Price: 55.60, Change: +0.30, Percent Change: +0.54

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