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Hess Midstream Partners LP (NYSE:HESM) ("Hess Midstream" or the "Partnership"), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.3833 per common unit for the quarter ended March 31, 2019. The distribution represents a 15% increase compared to the prior year quarter and a 3.6% increase compared to the fourth quarter of 2018. The distribution will be payable on May 14, 2019 to unitholders of record as of the close of business on May 3, 2019.
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Tax Considerations
This release serves as a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) that 100% of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
About Hess Midstream
Hess Midstream Partners LP is a fee-based, growth-oriented, traditional master limited partnership that was formed to own, operate, develop and acquire a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream's assets are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005961/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.