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

Rhea-AI Summary

Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.4600 per limited partner common unit for Q1 2021. This distribution will be paid on May 14, 2021 to unitholders on record as of May 4, 2021. The release also highlights tax considerations for foreign investors, indicating that all distributions are subject to federal income tax withholding. Shell Midstream owns and operates key midstream infrastructure, including pipelines and storage tanks, facilitating the transportation of crude oil and refined products.

Positive

• Declared cash distribution of $0.4600 per unit for Q1 2021.
• Distribution reflects confidence in cash flow and partnership stability.
• Assets include critical infrastructure for transporting crude oil and refined products.

Negative

• None.

Houston, April 22, 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 common unit for the first quarter of 2021. The distribution will be paid May 14, 2021 to unitholders of record as of May 4, 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. # # # 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 amount declared by Shell Midstream Partners for Q1 2021?

Shell Midstream Partners declared a cash distribution of $0.4600 per limited partner common unit for Q1 2021.

When will Shell Midstream Partners pay the Q1 2021 distribution?

The Q1 2021 distribution will be paid on May 14, 2021.

Who is eligible for the Shell Midstream Partners distribution?

Unitholders of record as of May 4, 2021, are eligible to receive the distribution.

Are distributions to foreign investors from Shell Midstream Partners subject to taxes?

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