Sunoco Logistics Partners (SXL) Increases Dividend

Sunoco Logistics Partners L.P. (NYSE: SXL) announced net income attributable to owners for the fourth quarter 2010 of $59 million ($1.42 per unit diluted), compared with $54 million ($1.30 per unit diluted) for the fourth quarter 2009. Highlights of the fourth quarter 2010 include: Distributable cash flow of $69 million for the quarter compared to $50 million for the prior year period; Recognized contango inventory profits of approximately $10 million in the fourth quarter 2010; Finished 2010 with a Debt to EBITDA ratio of 3.4x "Entering 2011, we continue to build upon our diverse asset base with near-term emphasis on expanding our marketing terminal blending services and working toward optimizing our assets in the Marcellus Shale region with Project Mariner. We are projecting $100 to $150 million for our 2011 expansion capital program, excluding major projects and acquisitions, and we expect $45 million of maintenance capital spending. Our balance sheet remains strong and should provide the opportunity to grow beyond our base capital program.”... Read more

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