Phillips 66 Partners Declares Quarterly Cash Distribution

Rhea-AI Summary

Phillips 66 Partners LP (NYSE: PSXP) has announced a fourth-quarter 2020 cash distribution of $0.875 per common unit, equating to $3.50 annually. This distribution is scheduled for payment on February 12, 2021, to unitholders of record as of January 29, 2021. The partnership focuses on owning, operating, and developing midstream assets, primarily fee-based pipelines and terminals for crude oil and refined products. For further details, visit www.phillips66partners.com.

Positive

• The fourth-quarter distribution of $0.875 indicates a stable cash flow and commitment to returning value to unitholders.
• Annualized distribution totals $3.50, suggesting consistent support for dividends.

Negative

• None.

Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a fourth-quarter 2020 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Feb. 12, 2021, to unitholders of record as of Jan. 29, 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/20210119005238/en/

FAQ

What is the fourth-quarter 2020 cash distribution for PSXP?

The fourth-quarter 2020 cash distribution for Phillips 66 Partners LP (PSXP) is $0.875 per common unit.

When will the cash distribution be paid to PSXP unitholders?

The cash distribution will be paid on February 12, 2021, to unitholders of record as of January 29, 2021.

What does the annualized distribution amount to for PSXP?

The annualized distribution amount for Phillips 66 Partners LP (PSXP) is $3.50 per unit.

What type of assets does Phillips 66 Partners LP focus on?

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