The board of Phillips 66 Partners LP's general partner declared a fourth-quarter 2019 cash distribution of 87.5 cents per unit, up by one cent from the third quarter of 2019 distribution of 86.5 cents per unit, according to a Jan. 21 release.

The distribution is payable Feb. 13 to unitholders of record Jan. 31.

Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own and operate midstream assets, including crude oil, refined products, and NGL pipelines and terminals.