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) has announced a cash distribution of $0.30 per limited partner common unit for the fourth quarter of 2021. This distribution will be paid on February 11, 2022, to unitholders of record as of February 1, 2022. The press release also highlights tax considerations for foreign investors, indicating that all distributions to them are subject to federal income tax withholding. Shell Midstream operates pipelines and other assets critical for transporting crude oil and natural gas across the Gulf Coast and Midwest refining markets.

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• Declared a cash distribution of $0.30 per limited partner common unit for Q4 2021.
• Scheduled payment date for distribution is February 11, 2022.

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• None.

Houston, Jan. 20, 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 fourth quarter of 2021. The distribution will be paid February 11, 2022 to unitholders of record as of February 1, 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 cash distribution announced by SHLX for Q4 2021?

Shell Midstream Partners, L.P. announced a cash distribution of $0.30 per limited partner common unit for Q4 2021.

When will the cash distribution for SHLX be paid?

The cash distribution will be paid on February 11, 2022.

What is the record date for SHLX's cash distribution?

The record date for the cash distribution is February 1, 2022.

How are distributions to foreign investors taxed from SHLX?

Distributions to foreign investors from Shell Midstream Partners are subject to federal income tax withholding at the highest effective tax rate.