Shell Midstream Partners LP (NYSE: SHLX) is the seventh company in our Energy and Income Advisor coverage universe to cut its dividend in calendar 2021. The company announced a quarterly payout of 30 cents per share for payment August 13, a reduction of -34.8 percent from the previous level of 46 cents.
Management cited two basically boiler plate reasons for the cut: The need “to ensure the partnership’s near-term financial health,” and to “provide a long-term sustainable financial framework” to “allow the partnership the ability to pursue projects that build upon its diverse portfolio an enhance unitholder value.”
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Elliott and Roger on Aug. 31, 2021
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