Phillips 66 Partners LP announced that the board of directors of its general partner declared a fourth-quarter 2018 cash distribution of $0.835 per common unit. This quarter’s distribution represents an increase of 5.4% over the previous quarterly distribution of $0.792 per unit and a 23.2% increase over fourth-quarter 2017. With this distribution increase, the partnership has achieved its stated objective of a 30% compound annual distribution growth rate from the fourth quarter of 2013 through 2018. The fourth-quarter distribution is payable on February 13, 2019, to unit holders of record as of February 1, 2019.