Shell Midstream Partners, L.P. Declares 5.1% Increase in Quarterly Distribution
Houston, April 20, 2017 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the Board of Directors of its general partner declared a cash distribution of $0.2910 per limited partner unit for the first quarter of 2017. This represents an increase of 5.1 percent over the previous quarterly distribution of $0.2770 per unit and a 23.8 percent increase over the distribution paid with respect to the first quarter of 2016. The distribution will be paid May 12, 2017 to unitholders of record as of May 1, 2017.
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, headquartered in Houston, Texas, is a fee-based, growth-oriented midstream master limited partnership formed by Royal Dutch Shell to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partners' assets consist of pipelines, crude tank storage and terminal systems that serve as key infrastructure to transport and store onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from Gulf Coast markets to major demand centers.
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