MPLX LP Announces Quarterly Cash Distribution
MPLX LP (NYSE: MPLX) has recently declared a quarterly cash distribution of $1.0765 per common unit for the fourth quarter of the prior year. This announcement reflects the company’s commitment to rewarding its investors, as the annualized distribution totals to an impressive $4.31. The payout is scheduled for February 17, and shareholders who are on record by February 9 will benefit from this distribution.
Clarification on Tax Implications for Investors
In conjunction with the distribution announcement, MPLX is providing important tax-related information for brokers and nominees managing units on behalf of non-U.S. investors. According to the Treasury Regulation, it’s crucial for brokers to categorize the entire distribution as income effectively linked to a U.S. trade or business. This information ensures that distributions to non-U.S. investors are correctly subject to the highest federal income tax withholding rates applicable.
This initiative underlines the company's effort to maintain transparency and uphold regulatory standards regarding tax responsibilities, ensuring that all parties involved understand their obligations and the implications of their investments in the partnership.
About MPLX LP
MPLX LP stands out as a prominent player in the midstream energy sector. The company offers a vast array of services focused on energy infrastructure logistics. Its extensive portfolio includes various assets like crude oil and refined product pipelines, marine transportation services for light products, along with an extensive network for storage and terminal facilities.
The firm is not only engaged in the transportation of energy but also manages crude oil and natural gas gathering systems and an array of processing facilities that cater to the dynamic U.S. supply basins. This diversity allows MPLX to maintain robust operations while effectively meeting market demands.
Investor Relations and Media Contacts
MPLX LP is committed to fostering open communication with its investors. For inquiries related to investor relations, individuals can reach out to:
- Kristina Kazarian, Vice President Finance and Investor Relations - (419) 421-2071
- Brian Worthington, Senior Director, Investor Relations
- Isaac Feeney, Director, Investor Relations
- Evan Heminger, Analyst, Investor Relations
For media inquiries, please contact:
- Jamal Kheiry, Communications Manager - (419) 421-3577
Frequently Asked Questions
What is the amount of the quarterly distribution declared by MPLX LP?
The quarterly cash distribution declared by MPLX LP is $1.0765 per common unit.
When will the distribution be paid to shareholders?
The distribution will be paid on February 17 to common unitholders of record as of February 9.
What are the tax implications for non-U.S. investors?
Non-U.S. investors must be aware that federal income tax withholding applies to the distributions at the highest applicable rates.
What type of services does MPLX LP provide?
MPLX LP primarily operates in midstream energy and provides various logistics services, including crude oil and refined product transportation and storage.
How can I contact MPLX LP's investor relations?
You can reach MPLX LP's investor relations through the listed contacts, including Kristina Kazarian at (419) 421-2071.
