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 Q4 2020, equivalent to Q4 2019. This distribution will be paid on February 12, 2021, to unitholders of record as of February 2, 2021. The release also highlights tax implications for foreign investors, indicating that 100 percent of distributions are subject to federal income tax withholding. Shell Midstream Partners operates key infrastructure for transporting crude oil and refined products across the Gulf Coast and Midwest.

Positive

• Consistent cash distribution of $0.4600 per unit for Q4 2020, matching Q4 2019.
• Scheduled distribution payment may enhance investor confidence.

Negative

• None.

Houston, Jan. 21, 2021 (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 fourth quarter of 2020, consistent with the distribution paid with respect to the fourth quarter of 2019. The distribution will be paid February 12, 2021 to unitholders of record as of February 2, 2021.  

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 2034

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

FAQ

What is the cash distribution for SHLX in Q4 2020?

Shell Midstream Partners announced a cash distribution of $0.4600 per limited partner unit for Q4 2020.

When will the SHLX distribution be paid?

The distribution will be paid on February 12, 2021, to unitholders of record as of February 2, 2021.

Are SHLX distributions taxable for foreign investors?

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