Houston, Jan. 20, 2016 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (NYSE: SHLX) announces that the Board of Directors of its general partner declared a cash distribution of $0.2200 per limited partner unit for the fourth quarter of 2015. This represents an increase of 7.3 percent over the previous quarter distribution of $0.2050 per unit and a 35.4 percent increase over the minimum quarterly distribution. The distribution will be paid February 11, 2016 to unitholders of record as of February 1, 2016.
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 is a fee-based, growth-oriented 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 interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport growing onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers.
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