Shell Midstream Partners, L.P. Declares Distribution of $0.30 Per Limited Partner Common Unit

Rhea-AI Summary

Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.30 per limited partner common unit for Q1 2022, payable on May 13, 2022, to unitholders of record as of May 3, 2022. The first quarter earnings release and SEC filings are scheduled for May 5, 2022. Additionally, foreign investors should be aware that all distributions are subject to federal income tax withholding at applicable rates. This announcement underscores the Partnership’s commitment to deliver consistent returns to its investors.

Positive

• Declared cash distribution of $0.30 per unit, indicating strong capital returns.
• Consistent distribution schedule enhances investor confidence.

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• None.

Houston, April 21, 2022 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) (the “Partnership”) announces that the Board of Directors of its general partner declared a cash distribution of $0.30 per limited partner common unit for the first quarter of 2022. The distribution will be paid May 13, 2022 to unitholders of record as of May 3, 2022.

The Partnership’s first quarter earnings release and associated SEC filings will be posted after markets close on Thursday, May 5, 2022.

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 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a U.S. trade or business. Accordingly, all of the Partnership’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 the Partnership, 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, L.P., headquartered in Houston, Texas, owns, operates, develops and acquires pipelines and other midstream and logistics assets. The Partnership’s assets include interests in entities that own (a) crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and deliver refined products from those markets to major demand centers and (b) storage tanks and financing receivables that are secured by pipelines, storage tanks, docks, truck and rail racks and other infrastructure used to stage and transport intermediate and finished products. The Partnership’s assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast.

For more information on Shell Midstream Partners, L.P. and the assets owned by the Partnership, please visit www.shellmidstreampartners.com.

Inquiries:

Shell Media Relations

Americas: +1 832 337 4355

Shell Investor Relations

North America: +1 832 337 2837

* SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.

FAQ

What is the distribution amount for Shell Midstream Partners (SHLX) in Q1 2022?

Shell Midstream Partners announced a distribution of $0.30 per limited partner common unit for Q1 2022.

When will the cash distribution be paid to SHLX unitholders?

The cash distribution will be paid on May 13, 2022, to unitholders of record as of May 3, 2022.

When will Shell Midstream Partners release its Q1 2022 earnings?

The Q1 2022 earnings release and SEC filings will be posted after markets close on May 5, 2022.

Are distributions to foreign investors from SHLX subject to tax?

Yes, 100 percent of the distributions to foreign investors are subject to federal income tax withholding at the highest effective rates.