MPLX LP Increases Quarterly Distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Jan. 20, 2015 - MPLX LP (NYSE: MPLX) today announced a cash
distribution of $0.3825 per common unit for the fourth quarter of 2014. This
represents an increase of $0.025 per unit, or 7 percent, over the previous
quarterly distribution and a 22.4 percent increase over the fourth quarter of
2013. MPLX has increased its distribution every quarter since its initial public
offering in October 2012, consistent with the intent to maintain an attractive
distribution growth profile over an extended period of time. The fourth-quarter
distribution will be paid Feb. 13, 2015, to unitholders of record as of Feb.
3, 2015.
On Feb. 4, MPLX will provide an update on its 2014 fourth-quarter results
through an earnings news release, to be followed by a conference call scheduled
for 2 p.m. EST that day. Interested investors can listen to the conference call
on MPLX's website at http://www.mplx.com by clicking on the "2014 Fourth-Quarter
Financial Results" link in the "News & Headlines" section.
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 fee-based, growth-oriented master limited partnership formed in 2012
by Marathon Petroleum Corporation to own, operate, develop and acquire pipelines
and other midstream assets related to the transportation and storage of crude
oil, refined products and other hydrocarbon-based products. Headquartered in
Findlay, Ohio, MPLX's assets consist of a 99.5 percent equity interest in a
network of common carrier crude oil and products pipeline assets located in the
Midwest and Gulf Coast regions of the United States and a 100 percent interest
in a butane storage cavern located in West Virginia, with approximately 1
million barrels of natural gas liquids storage capacity.
Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
MPLX Increases Quarterly Distribution:
http://hugin.info/155038/R/1888305/668205.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MPLX LP via GlobeNewswire
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Datum: 20.01.2015 - 13:01 Uhr
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