Phillips 66 Partners LP has announced that the board of directors of its general partner declared a 3Q17 cash distribution of US$0.646 per common unit.
This represents an increase of 5% over the previous quarterly distribution of US$0.615 per unit and a 22% increase over the corresponding period of last year.
The distribution increase is consistent with previous guidance that the partnership expects a 30% compound annual distribution growth rate from the last quarter of 2013 through 2018.
This is the sixteenth consecutive quarterly distribution increase since Phillips 66 Partners’ initial public offering in 2013.
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