Houston, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the Board of Directors of its general partner declared a cash distribution of $0.4600 per limited partner unit for the fourth quarter of 2019. This represents an increase of 3.4 percent over the previous quarterly distribution of $0.4450 per unit and a 15.0 percent increase over the distribution paid with respect to the fourth quarter of 2018. The distribution will be paid February 14, 2020 to unitholders of record as of February 3, 2020.
TAX CONSIDERATIONS
This release is intended to be a qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Shell Midstream Partners, L.P.’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Shell Midstream Partners, L.P.’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Shell Midstream Partners, L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
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About Shell Midstream Partners, L.P.
Shell Midstream Partners, L.P., headquartered in Houston, Texas, is a growth-oriented master limited partnership formed by Royal Dutch Shell plc to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partners, L.P.’s assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to (i) transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and (ii) deliver refined products from those markets to major demand centers. Our assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast.
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