Market Overview

MPLX LP Increases Quarterly Distribution

Share:

FINDLAY, Ohio, Jan. 23, 2020 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE:MPLX) has declared a quarterly cash distribution of $0.6875 per common unit for the fourth quarter of 2019, or $2.75 on an annualized basis.

This represents an increase of $0.01 per unit, or 1.5 percent, over the third quarter 2019 distribution, and an increase of $0.04 per unit, or 6.2 percent, over the fourth quarter 2018 distribution. This is the 28th consecutive quarterly distribution increase and will be paid on Feb. 14, 2020, to common unitholders of record as of Feb. 4, 2020.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100 percent of MPLX's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, MPLX's distributions to non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.

About MPLX LP 

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.mplx.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President, Investor Relations
Jim Mallamaci, Manager, Investor Relations
Evan Barbosa, Manager, Investor Relations

Media Contacts:
Hamish Banks, Vice President, Corporate Communications (419) 421-2521
Jamal Kheiry, Manager, Corporate Communications (419) 421-3312

Cision View original content:http://www.prnewswire.com/news-releases/mplx-lp-increases-quarterly-distribution-300992539.html

SOURCE MPLX LP

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com