Shell Midstream Partners, L.P. Declares 5% Increase in Quarterly Distribution
January 19 2017 - 8:30AM
Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the
Board of Directors of its general partner declared a cash
distribution of $0.2770 per limited partner unit for the fourth
quarter of 2016. This represents an increase of 5 percent
over the previous quarterly distribution of $0.26375 per unit and a
26 percent increase over the distribution paid with respect to the
fourth quarter of 2015. The distribution will be paid
February 14, 2017 to unitholders of record as of January 31, 2017.
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 Shell Midstream Partners,
L.P.’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, all of Shell Midstream Partners, L.P.’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 Shell Midstream
Partners, L.P., 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, headquartered in Houston, Texas, is a
fee-based, growth-oriented midstream master limited partnership
formed by Royal Dutch Shell to own, operate, develop and acquire
pipelines and other midstream assets. Shell Midstream Partners'
assets consist of pipelines, crude tank storage and terminal
systems that serve as key infrastructure to transport and store
onshore and offshore crude oil production to Gulf Coast and Midwest
refining markets and to deliver refined products from Gulf Coast
markets to major demand centers. Inquiries:
Shell Media Relations Americas: +1 713 241 4544
Shell Investor Relations North America: +1 832 337 2034
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