A third-quarter cash distribution of $0.865 per share was announced Thursday by Phillips 66 Partners LP.
It represented an increase of one cent per unit from the second quarter of 2019. The distribution was also the 24th consecutive quarterly increase since Phillips 66 Partners’ initial public offering in 2013. It also represents a 9% increase compared to the third-quarter 2018 distribution.
This latest distribution will be payable Nov. 13, 2019 to unitholders of record as of Oct. 31, 2019.