Sprague Resources (SRLP) will raise its quarterly distribution to $0.5925 per unit.

The first quarter distribution represents a 3% increase over the distribution declared for the quarter ended December 31, 2016 and an increase of 11% over the quarterly distribution of $0.5325 per unit paid in May 2016.

The announced distribution will be paid on May 15, 2017 to unitholders of record as of the close of business on May 8, 2017.

“I am pleased to announce that Sprague has increased distributions to our unitholders for the twelfth consecutive quarter,” said David Glendon, President and Chief Executive Officer.  “As noted in our most recent earnings call, we anticipate maintaining this growth at least through 2019.”

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.