Phillips 66 Partners LP announced the board of directors of its general partner declared a fourth-quarter 2014 cash distribution of $0.34 per limited partnership unit. This quarter's distribution represents an increase of 7% over the previous quarterly distribution of $0.3168 per unit and a 51% increase over fourth-quarter 2013. The distribution is payable on Feb.

13, 2015, to unitholders of record as of Feb. 4, 2015.