Do effects of the Paladin's Shield stack?

The Paladin's Shield wiki page states:

transfers 25% of the damage inflicted on allies to the wearer when its health is above 25%. Allies must be in the same team color for it to work. It gives the most base defense of all accessories with up to 10 defense available if reforged to warding

I haven't yet hit Hardmode yet (still have to defeat Eye of Chtulu). What I want to know is, if I have 3 other teammates, and they all have Paladin Shields, theoretically, is the damage taken by anyone (as long as above 25%) literall nill?

If not, what's the "progression" on these things?

1 Answer

Having more than 1 party member in range equipped with a Paladin's Shield will not provide any additional benefits.

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