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Shell Midstream Partners ups quarterly distribution by 3.5%

Shell Midstream Partners LP declared a third-quarter cash distribution of 44.5 cents per unit, an increase of 1.5 cents, or 3.5%, from the prior-quarter distribution.

The distribution is an increase of 6.3 cents, or 16.5%, year over year, according to an Oct. 24 news release. It is payable Nov. 14 to common unit holders of record as of Nov. 4.

Shell Midstream is a Houston-based master limited partnership formed by Royal Dutch Shell PLC to own and operate pipelines and other midstream assets.