Shell Midstream Partners, L.P. Declares Distribution of $0.46 Per Limited Partner Unit

Rhea-AI Summary

Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.4600 per limited partner unit for Q3 2020, marking a 3.4% increase from Q3 2019. The distribution will be paid on November 13, 2020 to unitholders of record as of November 3, 2020. The release includes tax considerations for foreign investors, noting that 100% of the distributions are subject to federal income tax withholding. Shell Midstream Partners operates pipelines and logistics assets facilitating the transportation of crude oil and refined products, providing essential infrastructure for the energy sector.

Positive

• Q3 2020 distribution increased by 3.4% compared to Q3 2019.

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• None.

Houston, Oct. 22, 2020 (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 $0.4600 per limited partner unit for the third quarter of 2020. This represents an increase of 3.4 percent over the distribution paid with respect to the third quarter of 2019. The distribution will be paid November 13, 2020 to unitholders of record as of November 3, 2020.   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. # # # 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 2034

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

FAQ

What is the Q3 2020 cash distribution for Shell Midstream Partners (SHLX)?

The Q3 2020 cash distribution for Shell Midstream Partners is $0.4600 per limited partner unit.

When will Shell Midstream Partners (SHLX) distribute the cash dividends?

The cash dividends will be paid on November 13, 2020, to unitholders of record as of November 3, 2020.

What is the percentage increase in distribution from Q3 2019 to Q3 2020 for SHLX?

The distribution increased by 3.4% from Q3 2019 to Q3 2020.

How does the cash distribution impact foreign investors in Shell Midstream Partners (SHLX)?

All distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.