BP Midstream Partners LP (“BP Midstream,” “BPMP” or the “Partnership”) today announced that the Board of Directors of BP Midstream Partners GP LLC, the general partner of the Partnership, declared a quarterly cash distribution of $0.2725 per unit for the second quarter of 2018. The distribution reflects an increase of $0.0050 over the first quarter 2018 distribution and is cumulatively $0.0100 over the Partnership’s minimum quarterly distribution.
The second quarter 2018 distribution will be payable on August 15, 2018, to unitholders of record as of August 1, 2018, with an ex-distribution date of July 31, 2018.
BPMP is a fee-based, growth-oriented master limited partnership formed by BP to own, operate, develop and acquire pipelines and other midstream assets. BPMP’s assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and its affiliates and other customers to transport onshore and offshore production to key refining markets and trading and distribution hubs.
For more information on BPMP and the assets owned by the partnership, please visit www.bpmidstreampartners.com.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
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