UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
April 17, 2019
Phillips 66 Partners LP
(Exact name of registrant as specified in its charter)
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Delaware
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001-36011
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38-3899432
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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2331 CityWest Blvd., Houston, Texas 77042
(Address of principal executive offices) (zip code)
(855) 283-9237
(Registrant’s telephone number, including area code)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 2.02 Results of Operations and Financial Condition.
On
April 17, 2019
, the Board of Directors of our General Partner declared a quarterly cash distribution of
$0.845
per common unit attributable to the
first
quarter of 2019. This distribution is payable
May 14, 2019
, to unitholders of record as of
April 30, 2019
. A copy of the news release announcing the declaration of our quarterly cash distribution is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
Item 8.01 Other Events.
The description in Item 2.02 above of the declaration of our quarterly cash distribution is incorporated in this Item 8.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 — News release issued by Phillips 66 Partners LP on
April 17, 2019
, announcing the declaration of its quarterly cash distribution.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PHILLIPS 66 PARTNERS LP
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By: Phillips 66 Partners GP LLC, its general partner
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/s/ Chukwuemeka A. Oyolu
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Chukwuemeka A. Oyolu
Vice President and Controller
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Date:
April 17, 2019
EXHIBIT INDEX
Phillips 66 Partners Increases
Quarterly Cash Distribution
HOUSTON,
April 17, 2019
- Phillips 66 Partners LP (NYSE: PSXP) announces that the board of directors of its general partner declared a
first
-quarter 2019 cash distribution of
$0.845
per common unit, an increase of one cent per common unit from the fourth quarter of 2018. This is the twenty-second consecutive quarterly distribution increase since Phillips 66 Partners’ initial public offering in 2013 and represents an 18% increase compared to the first quarter 2018 distribution. The quarterly distribution is payable
May 14, 2019
, to unitholders of record as of
April 30, 2019
.
Phillips 66 Partners is committed to a competitive and growing distribution that is balanced with strong coverage and leverage ratios. The Partnership’s strong financial position allows it to reward unitholders with increasing distributions while funding organic growth projects.
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 products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit
www.phillips66partners.com
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- # # # -
CONTACTS
Jeff Dietert (investors)
832-765-2297
jeff.dietert@p66.com
or
Brent Shaw, (investors)
832-765-2297
brent.d.shaw@p66.com
or
Joe Gannon (media)
832-765-1850
joe.gannon@p66.com
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% 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.
