Phillips 66 Partners Declares Quarterly Cash Distribution

Rhea-AI Summary

Phillips 66 Partners LP (NYSE: PSXP) declared a second-quarter 2021 cash distribution of $0.875 per common unit, translating to an annualized rate of $3.50 per unit. This distribution is scheduled for payment on August 13, 2021, to unitholders on record as of July 30, 2021. Phillips 66 Partners operates as a growth-oriented master limited partnership focused on owning and managing primarily fee-based midstream assets, including pipelines and terminals for crude oil, refined products, and natural gas liquids.

Positive

• Declared a cash distribution of $0.875 per common unit for Q2 2021.
• Annualized distribution rate of $3.50 per unit.
• Distribution demonstrates the partnership's commitment to returning value to unitholders.

Negative

• None.

Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a second-quarter 2021 cash distribution of $0.875 per common unit, or $3.50 per unit on an annualized basis. The quarterly distribution is payable Aug. 13, 2021, to unitholders of record as of July 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/20210720006147/en/

FAQ

What is the cash distribution declared by Phillips 66 Partners LP for Q2 2021?

Phillips 66 Partners LP declared a cash distribution of $0.875 per common unit for Q2 2021.

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

The cash distribution is payable on August 13, 2021.

What is the record date for the cash distribution of Phillips 66 Partners LP?

The record date for the cash distribution is July 30, 2021.

What does the annualized distribution rate for Phillips 66 Partners LP amount to?

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