MPLX LP Announces Enhanced Distribution for Investors

MPLX LP Announces Increased Quarterly Distribution

The board of directors of the general partner of MPLX LP (NYSE: MPLX) has recently declared a quarterly cash distribution of $1.0765 per common unit for the third quarter of the fiscal year. This translates to an annualized rate of $4.31. Investors can look forward to the growth this represents.

This cash distribution shows a promising 12.5% increase over the previous quarter, reflecting a $0.12 uplift per common unit compared to the second quarter of the current fiscal year. The distribution is scheduled to be distributed on a designated date to those common unitholders designated as of a certain record date.

Understanding the Impact of MPLX's Distribution Increase

This substantial increase in distribution is a testament to MPLX's robust financial health and operational capabilities. Distribution improvements not only benefit unitholders but also bolster investor confidence in the company’s growth trajectory.

The increase is part of MPLX's continued commitment to returning capital to its investors while striving for operational excellence across its midstream infrastructure assets. By engaging in strategic improvements and investments, MPLX aims to maintain this upward momentum.

Tax Considerations for Non-U.S. Investors

In conjunction with this announcement, MPLX is ensuring transparency regarding tax implications on distributions made to non-U.S. investors. According to Treasury Regulations, MPLX advises brokers and nominees holding units on behalf of these investors that all distributions are treated as income effectively connected to a U.S. trade or business.

Brokers and nominees have an obligation to manage withholding based on the highest applicable effective tax rate. Non-U.S. investors should be aware of the possible tax obligations arising from these distributions, and nominees, who act as withholding agents, bear the responsibility for managing tax withholding effectively.

About MPLX LP

MPLX LP is recognized as a diversified, large-cap master limited partnership that specializes in midstream energy infrastructure and logistics services. The partnership's extensive asset base includes a comprehensive network of pipelines for crude oil and refined products, terminals for light products, and storage facilities, all integral to the energy supply chain.

Additionally, MPLX operates inland marine operations, various terminal facilities, and important marine terminals. The company is also involved in gathering and transportation of natural gas and NGLs, complemented by processing facilities across several important U.S. supply basins. This diversified operational structure enhances MPLX's resilience and responsiveness to market changes.

For further insights and more information about MPLX, interested parties are encouraged to visit their official website.

Contact Information

For inquiries regarding investor relations, the dedicated team at MPLX LP can be reached directly. Kristina Kazarian, Vice President of Finance and Investor Relations, along with other key team members, are available to assist. The media contact, Jamal Kheiry, is also on hand to address communication and public relation needs.

Frequently Asked Questions

What is the new distribution amount declared by MPLX LP?

MPLX LP has declared a cash distribution of $1.0765 per common unit for the third quarter.

When will the distribution payment occur?

The scheduled payment date for the distribution is set for a specific date in November.

How does the current distribution compare to previous quarters?

The current distribution represents a 12.5% increase over the second quarter's distribution.

What tax implications should non-U.S. investors be aware of?

Non-U.S. investors should note that distributions are considered effectively connected income, subject to withholding.

What services does MPLX LP provide?

MPLX LP operates in midstream energy infrastructure, including pipelines, terminals, and natural gas processing facilities.

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