|TESORO LOGISTICS LP ANNOUNCES 23RD CONSECUTIVE QUARTERLY DISTRIBUTION INCREASE|
SAN ANTONIO - January 18, 2017 - Tesoro Logistics LP (NYSE:TLLP) today announced the declaration of its quarterly cash distribution for the fourth quarter 2016 of $0.91 per limited partnership unit, or $3.64 on an annualized basis. This distribution represents a 4% increase over the quarterly distribution of $0.8750 per unit or $3.50 per unit on an annualized basis paid in November 2016. This represents the 23rd consecutive quarterly increase of approximately 4% or more. The fourth quarter distribution will be paid February 14, 2017 to all unitholders of record as of February 3, 2017. In the prior four quarters, TLLP has increased its distribution to limited partners by 17%.
ABOUT TESORO LOGISTICS LP
This release contains certain statements that are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, concerning the timing of our cash distribution. For more information concerning factors that could affect these statements see our annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings and press releases, available at www.tesorologistics.com. We undertake no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise.
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Tesoro Logistics LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Tesoro Logistics LP's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Tesoro Logistics LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.