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|Andeavor Logistics Announces 27th Consecutive Quarterly Distribution Increase|
SAN ANTONIO, TX - January 19, 2018 - Andeavor Logistics LP (NYSE: ANDX) announced today the declaration of its quarterly cash distribution for the fourth quarter 2017 of $1.00 per limited partnership unit, or $4.00 on an annualized basis. This distribution represents a 1.5% increase over the quarterly distribution of $0.9852 per limited partnership unit, or $3.94 per unit on an annualized basis, paid in November 2017. This represents the 27th consecutive quarterly increase. The fourth quarter distribution will be paid February 14, 2018 to all unitholders of record as of January 31, 2018. In the prior four quarters, ANDX has increased its distribution to limited partners by 10%.
Andeavor Logistics also announced today that the board of directors of its general partner declared an initial partial-period cash distribution on its 6.875% Series A Fixed-to-Floating Rate Cumulative Redeemed Perpetual Preferred Units, payable on February 15, 2018 to unitholders of record as of the close of business on February 1, 2018.
About Andeavor Logistics LP
Forward Looking Statements
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.