Shell Midstream Partners, L.P. (SHLX) will raise its quarterly distribution by 3.5 percent to $0.445 per unit. This represents a 16.5 percent increase over the distribution paid with respect to the third quarter of 2018. 

The next distribution will be paid November 14, 2019 to unitholders of record as of November 4, 2019. A new annual rate of $1.78 per unit yields 8.5% at a stock price of $20.83.

Shell Midstream Partners, L.P., headquartered in Houston, Texas, is a growth-oriented master limited partnership formed by Royal Dutch Shell plc to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partners, L.P.’s assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and deliver refined products from those markets to major demand centers. The company's assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast.