Suburban Propane Partners' board has raised the propane distributor's quarterly distribution by 7.7%, to 35 cents from 32.5 cents.

The new payout, equal to $1.40 a year, represents an annual yield of about 8.09% based on Wednesday's closing price of $17.30, up from 7.51%.

The Whippany, N.J., company on Thursday said the increased distribution is payable Nov. 10 to unit-holders of record Nov. 3.