Distributions of Available Cash

3 Months Ended

Dec. 26, 2015

Distributions Made To Members Or Limited Partners [Abstract]

9.	Distributions of Available Cash

The Partnership makes distributions to its partners no later than 45 days after the end of each fiscal quarter in an aggregate amount equal to its Available Cash for such quarter. Available Cash, as defined in the Partnership Agreement, generally means all cash on hand at the end of the respective fiscal quarter less the amount of cash reserves established by the Board of Supervisors in its reasonable discretion for future cash requirements. These reserves are retained for the proper conduct of the Partnership’s business, the payment of debt principal and interest and for distributions during the next four quarters.

On January 21, 2016, the Partnership announced a quarterly distribution of $0.8875 per Common Unit, or $3.55 per Common Unit on an annualized basis, in respect of the first quarter of fiscal 2016, payable on February 9, 2016 to holders of record on February 2, 2016. The annualized distribution represents an increase of $0.05, or 1.4%, per Common Unit compared to the first quarter of fiscal 2015.