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Phillips 66 Partners raises quarterly distribution by 26% YOY

increased its second-quarter 2016 distribution by 26% year over year, to 50.5cents per unit.

Thedistribution also represents a 5% increase over that of the previous quarterand is in line with its expectation of 30% compound annual distribution growthrate from the last quarter of 2013 through 2018, according to a July 20 newsrelease.

Thedistribution is payable Aug. 12 to unit holders of record as of Aug. 3.