Andeavor Logistics Announces 28th Consecutive Quarterly Distribution Increase
SAN ANTONIO, TX - April 18, 2018 - Andeavor Logistics LP (NYSE: ANDX) announced today the declaration of its quarterly cash distribution for the first quarter 2018 of $1.015 per limited partnership unit, or $4.06 on an annualized basis. This distribution represents a 1.5% increase over the prior quarterly distribution of $1.00 per limited partnership unit, or $4.00 per unit on an annualized basis. This represents the 28th consecutive quarterly increase. The first quarter distribution will be paid May 15, 2018 to all unitholders of record as of May 1, 2018. Over the prior four quarters, Andeavor Logistics has increased its distribution to limited partners by 8%.
About Andeavor Logistics LP
Andeavor Logistics LP is a fee-based, full-service, diversified midstream logistics company, with integrated assets across the western and mid-continent regions of the United States. Andeavor Logistics operates through three business segments: Terminalling and Transportation, Gathering and Processing and Wholesale. The Terminalling and Transportation segment consists of marine terminals, refined product truck terminals, rail terminals, dedicated storage facilities and transportation pipelines. The Gathering and Processing segment consists of crude oil gathering systems and pipelines as well as natural gas gathering pipelines, processing facilities and fractionation facilities. The Wholesale segment consists of a fee-based fuel wholesale business. Andeavor Logistics is a Delaware limited partnership formed by Andeavor, headquartered in San Antonio, Texas.
Forward Looking Statements
This release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation statements concerning the amount and timing of our cash distributions. For more information concerning factors that could affect these statements, see our annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings and press releases, available at www.andeavorlogistics.com. We undertake no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise.
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Andeavor Logistics LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Andeavor Logistics' 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 Andeavor Logistics, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
Andrew Woodward, Sr. Director, Finance and Investor Relations, (210) 626-7202
Andeavor Media Relations, firstname.lastname@example.org, (210) 626-7702