Andeavor Logistics Announces 28th Consecutive Quarterly Distribution Increase
April 18 2018 - 4:30PM
SAN ANTONIO, TX -
April 18, 2018 - Andeavor Logistics LP (NYSE: ANDX) announced
today the declaration of its quarterly cash distribution for the
first quarter 2018 of $1.015 per limited partnership unit, or $4.06
on an annualized basis. This distribution represents a 1.5%
increase over the prior quarterly distribution of $1.00 per limited
partnership unit, or $4.00 per unit on an annualized basis. This
represents the 28th consecutive
quarterly increase. The first quarter distribution will be paid May
15, 2018 to all unitholders of record as of May 1, 2018. Over the
prior four quarters, Andeavor Logistics has increased its
distribution to limited partners by 8%.
About Andeavor Logistics
LP
Andeavor Logistics LP is a fee-based, full-service, diversified
midstream logistics company, with integrated assets across the
western and mid-continent regions of the United States. Andeavor
Logistics operates through three business segments: Terminalling
and Transportation, Gathering and Processing and Wholesale. The
Terminalling and Transportation segment consists of marine
terminals, refined product truck terminals, rail terminals,
dedicated storage facilities and transportation pipelines. The
Gathering and Processing segment consists of crude oil gathering
systems and pipelines as well as natural gas gathering pipelines,
processing facilities and fractionation facilities. The Wholesale
segment consists of a fee-based fuel wholesale business. Andeavor
Logistics is a Delaware limited partnership formed by Andeavor,
headquartered in San Antonio, Texas.
Forward Looking
Statements
This release contains "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including
without limitation statements concerning the amount and timing of
our cash distributions. For more information concerning factors
that could affect these statements, see our annual report on Form
10-K, quarterly reports on Form 10-Q, and other public filings and
press releases, available at www.andeavorlogistics.com. We
undertake no obligation to revise or update any forward-looking
statements as a result of new information, future events or
otherwise.
This release
serves as qualified notice to nominees as provided for under
Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Andeavor Logistics LP's distributions to
foreign investors are attributable to income that is effectively
connected with a United States trade or business. Accordingly, all
of Andeavor Logistics' 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 Andeavor Logistics, are treated as withholding agents
responsible for withholding distributions received by them on
behalf of foreign investors.
Contact:
Investors:
Andrew Woodward, Sr. Director, Finance and Investor Relations,
(210) 626-7202
Media:
Andeavor Media
Relations, media@andeavor.com, (210) 626-7702
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Andeavor Logistics LP via Globenewswire
Andeavor Logistics (NYSE:ANDX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Andeavor Logistics (NYSE:ANDX)
Historical Stock Chart
From Apr 2023 to Apr 2024