MPLX LP Increases Quarterly Distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 20, 2015 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.47 per common unit for the third quarter of 2015. This represents an increase
of $0.03 per unit, or 6.8 percent, over the second-quarter 2015 distribution and
an increase of $0.1125 per unit, or 31.5 percent, over the third-quarter 2014
distribution. Since the partnership's initial public offering in October 2012,
the MPLX board has authorized distribution increases for 11 consecutive
quarters, representing a compound annual growth rate of 23.6 percent over the
minimum quarterly distribution established at the partnership's formation. The
distribution will be paid Nov. 13, 2015, to unitholders of record as of Nov.
3, 2015.
On Oct. 29, MPLX will provide an update on its 2015 third-quarter results
through an earnings news release, to be followed by a conference call scheduled
for 2 p.m. EDT that day. Interested investors can listen to the conference call
on MPLX's website at http://www.mplx.com by clicking on the "2015 Third-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.
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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 Distribution:
http://hugin.info/155038/R/1960087/714438.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
[HUG#1960087]
Datum: 20.10.2015 - 12:20 Uhr
Sprache: Deutsch
News-ID 428176
Anzahl Zeichen: 3381
contact information:
Town:
FINDLAY
Kategorie:
Business News
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