MPLX LP Increases Quarterly Distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Jan. 25, 2016 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.50 per common unit for the fourth quarter of 2015. This represents an
increase of $0.03 per unit, or 6.4 percent, over the third-quarter 2015
distribution and an increase of $0.1175 per unit, or 30.7 percent, over the
fourth-quarter 2014 distribution. Since the partnership's initial public
offering in October 2012, the MPLX board has authorized distribution increases
for 12 consecutive quarters, representing a compound annual growth rate of 24
percent over the minimum quarterly distribution established at the partnership's
formation. The distribution will be paid Feb. 12, 2016, to unitholders of record
as of Feb. 4, 2016.
On Feb. 3, MPLX will provide an update on its 2015 fourth-quarter and full-year
results through an earnings release, to be followed by a conference call
scheduled for 2 p.m. EST that day. Interested investors may listen to the
conference call by dialing 1-800-447-0521 (confirmation #41539371) or by
visiting MPLX's website at http://www.mplx.com and clicking on the "2015 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.
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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 network of common carrier crude oil
and products pipeline assets located in the Midwest and Gulf Coast regions of
the United States and a butane storage cavern located in West Virginia with
approximately 1 million barrels of natural gas liquids storage capacity. In
addition, MarkWest Energy Partners, L.P., a wholly owned subsidiary of MPLX,
owns and operates midstream service businesses. MarkWest has a leading presence
in many natural gas resource plays, including the Marcellus Shale, Utica Shale,
Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash formation.
Investor Relations Contacts:
Lisa Wilson (419) 421-2071
Kevin Hawkins (866) 858-0482
Media Contacts:
Chuck Rice (419) 421-2521
MPLX Distribution Increase:
http://hugin.info/155038/R/1980982/725730.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#1980982]
Datum: 25.01.2016 - 12:56 Uhr
Sprache: Deutsch
News-ID 446235
Anzahl Zeichen: 3750
contact information:
Town:
FINDLAY
Kategorie:
Business News
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