Phillips 66 Partners LP (NYSE: PSXP) announces that the board of
directors of its general partner declared a first-quarter 2015 cash
distribution of $0.37 per limited partnership unit. This quarter’s
distribution represents an increase of 9 percent over the previous
quarterly distribution of $0.34 per unit and a 35 percent increase over
first-quarter 2014. The distribution is payable May 12, 2015, to
unitholders of record as of May 4, 2015.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented
master limited partnership formed by Phillips 66 to own, operate,
develop and acquire primarily fee-based crude oil, refined petroleum
product and natural gas liquids pipelines and terminals and other
transportation and midstream assets. For more information, visit www.phillips66partners.com.
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 Phillips 66 Partners LP’s distributions
to foreign investors are attributable to income that is effectively
connected with a United States trade or business. Accordingly, all of
Phillips 66 Partners LP’s distributions to foreign investors are subject
to federal income tax withholding at the highest applicable effective
tax rate. Nominees, and not Phillips 66 Partners LP, are treated as the
withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors.
Source: Phillips 66 Partners LP