Sprague Resources (SRLP) will raise its quarterly distribution to $0.5775 per unit.

The announced distribution will be paid on February 14, 2017 to unitholders of record as of the close of business on February 8, 2017.

"I am pleased to announce that for the eleventh consecutive quarter, Sprague has increased distributions to our unitholders," said David Glendon, President and Chief Executive Officer. "By successfully executing our strategy, we've been able to maintain double-digit distribution growth, while maintaining high distribution coverage and also de-leveraging our balance sheet."

Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The company also provides storage and handling services for a broad range of materials.