Phillips 66 Partners LP (NYSE: PSXP) announces the board of directors of
its general partner declared a second-quarter 2014 cash distribution of
$0.3017 per limited partnership unit. This quarter’s distribution
represents an increase of 10 percent over the previous quarterly
distribution of $0.2743 per unit and is 42 percent above the
partnership’s minimum quarterly distribution. The distribution is
payable Aug. 13, 2014, to unitholders of record as of Aug. 4, 2014.
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented
traditional 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.
Phillips 66 Partners LP
Rich Johnson, 832-765-1016 (media)
Steen, 832-765-3174 (investors)
Source: Phillips 66 Partners LP