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Phillips 66 Partners Declares Quarterly Cash Distribution
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Phillips 66 Partners LP (NYSE: PSXP) announced a cash distribution of $0.875 per common unit for the fourth quarter of 2021. This distribution is payable on February 14, 2022, to unitholders of record by January 31, 2022. The company operates in the midstream sector, focusing on crude oil, refined petroleum products, and natural gas pipelines and terminals. Notably, all distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.
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HOUSTON--(BUSINESS WIRE)--
Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a fourth-quarter 2021 cash distribution of $0.875 per common unit. The quarterly distribution is payable Feb. 14, 2022, to unitholders of record as of Jan. 31, 2022.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a 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.
