Phillips 66 Partners declares quarterly cash distribution

Rhea-AI Summary

Phillips 66 Partners LP (NYSE: PSXP) has declared a first-quarter 2021 cash distribution of $0.875 per common unit, amounting to $3.50 on an annualized basis. This distribution is set to be paid on May 14, 2021, to unitholders recorded by April 30, 2021. Phillips 66 Partners is a growth-oriented master limited partnership focused on managing crude oil, refined petroleum products, and natural gas liquids pipelines and terminals. The company aims to enhance its shareholder value through strategic asset management.

Positive

• First-quarter 2021 cash distribution is declared at $0.875 per common unit, providing consistent returns to investors.
• Annualized distribution amounts to $3.50 per unit, indicating the company's commitment to return capital to unitholders.

Negative

• None.

Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a first-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable May 14, 2021, to unitholders of record as of April 30, 2021.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit www.phillips66partners.com.

^{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% of Phillips 66 Partners LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Phillips 66 Partners LP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not Phillips 66 Partners LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.}

View source version on businesswire.com: https://www.businesswire.com/news/home/20210420006126/en/

FAQ

What is the cash distribution declared by Phillips 66 Partners for Q1 2021?

Phillips 66 Partners declared a cash distribution of $0.875 per common unit for Q1 2021.

When will the cash distribution be paid to unitholders of Phillips 66 Partners?

The cash distribution will be paid on May 14, 2021, to unitholders of record as of April 30, 2021.

What is the annualized distribution amount for Phillips 66 Partners LP?

The annualized distribution amount for Phillips 66 Partners LP is $3.50 per common unit.

What type of assets does Phillips 66 Partners focus on?

Phillips 66 Partners focuses on owning, operating, and developing fee-based crude oil, refined petroleum products, and natural gas liquids pipelines and terminals.