MPLX LP Declares Quarterly Distribution for Investors
MPLX LP Declares Quarterly Cash Distribution
The board of directors for the general partner of MPLX LP (NYSE: MPLX) has announced a significant quarterly cash distribution of $0.9565 per common unit for the current quarter. This translates to an impressive annualized distribution of $3.826, which reflects MPLX's ongoing commitment to its investors and their financial growth.
Distribution Payment Details
This distribution is slated for payment on a forthcoming date to common unitholders who are on the record as of a specified date. Such processes ensure that all eligible stakeholders receive their due returns promptly. This routine showcases the efficient management of MPLX LP and reinforces investor confidence in its midstream operations.
Tax Guidance for Investors
In conjunction with this announcement, MPLX wants to provide important tax information for brokers and nominees holding MPLX units on behalf of non-U.S. investors. Under specific Treasury Regulations, it is crucial that these brokers treat the totality of the Partnership's distributions as income effectively linked with U.S. trade or business. Such measures ensure clarity regarding tax obligations, particularly emphasizing that these distributions may be subject to federal income tax withholding at the applicable effective tax rate.
Implications for Non-U.S. Investors
Brokers and nominees acting on behalf of non-U.S. investors are designated as the withholding agents. They bear the responsibility of ensuring appropriate tax withholdings on distributions received. This delineation aids in maintaining compliance and safeguarding both the investors' interests and the Partnership's adherence to tax regulations.
About MPLX LP
MPLX is a recognized leader in the midstream energy sector, operating as a diversified, large-cap master limited partnership. The company manages extensive midstream energy infrastructure and logistics assets and offers comprehensive fuel distribution services. MPLX's vast array of assets comprises an expansive network of pipelines for crude oil and refined products, along with a robust inland marine business and light-product terminals.
Infrastructure and Services
Additionally, MPLX boasts a collection of storage caverns, refinery tanks, docks, loading racks, and connecting pipelines that support its operations, ensuring seamless service delivery within the energy sector. The company is also invested in gathering systems and pipelines for crude oil and natural gas, together with state-of-the-art processing and fractionation facilities located in key supply basins across the United States.
Commitment to Investors
With a strategic focus on infrastructure development and enhancing shareholder value, MPLX prioritizes sustainable growth and a reliable distribution policy. As the energy landscape evolves, MPLX continues to adapt and thrive, ensuring that its investors reap the benefits of a forward-thinking company.
Investor Relations Support
For investors seeking further details, MPLX has established a strong investor relations team to address inquiries and provide essential updates. Those wishing to connect can reach out through their dedicated contact numbers, which facilitate direct communication to knowledgeable representatives.
Frequently Asked Questions
What is the announced distribution per common unit by MPLX LP?
The announced distribution is $0.9565 per common unit for the current quarter.
When will the distribution be paid to unitholders?
The distribution will be paid on a forthcoming date to unitholders of record as of a specified date.
What does MPLX LP do?
MPLX LP manages midstream energy infrastructure and logistics, including pipelines, terminals, and processing facilities.
How does MPLX handle tax guidance for non-U.S. investors?
MPLX provides specific tax information, ensuring all non-U.S. investors understand their tax obligations regarding distributions.
Who can I contact for investor relations inquiries?
Investors can contact MPLX's investor relations team through their dedicated phone lines for inquiries and assistance.
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