Shell Midstream Partners, L.P. Finalizes Amendment for 2019 Incentive Distribution Rights Growth Waiver
Shell Midstream Partners, L.P. Common Units representing Limited Partner Interests (SHLX)
Last shell midstream partners, l.p. common units representing limited partner interests earnings: 2/20 08:00 am
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US:NYSE Investor Relations:
shellmidstreampartners.com
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Source: GlobeNewswire
Houston, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) (the “Partnership”), a growth-oriented midstream master limited partnership formed by Royal Dutch Shell plc (“RDS”), announced that it and its general partner, Shell Midstream Partners GP LLC, have amended the Partnership’s partnership agreement for the 2019 Incentive Distribution Rights (IDR’s) Growth Waiver. As announced on November 2, 2018, the Partnership’s sponsor, RDS, has elected to waive $50 million of distributions in 2019 and these funds are expected to be used by the Partnership for future investment. Under the terms of the amendment, the incentive distribution rights shall be reduced by (1) $17 million for the quarter ending March 31, 2019, (2) $17 million for the quarter ending June 30, 2019 and (3) $16 million for the quarter ending September 30, 2019. “We believe this waiver is evidence of strong sponsor support and further demonstrates RDS’ commitment to grow its midstream footpr
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