MPLX LP increases quarterly distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 25, 2016 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.515 per common unit for the third quarter of 2016. This represents an
increase of $0.005 per unit, or 1 percent, over the second-quarter 2016
distribution and an increase of $0.045 per unit, or 10 percent, over the third-
quarter 2015 distribution. Since the partnership's initial public offering in
October 2012, the MPLX board has authorized distribution increases for 15
consecutive quarters, representing a compound annual growth rate of 20 percent
over the minimum quarterly distribution established at the partnership's
formation. The distribution will be paid Nov. 14, 2016, to unitholders of record
as of Nov. 4, 2016.
On Oct. 27, MPLX will provide an update on its 2016 third-quarter results
through an earnings release, to be followed by a conference call scheduled for
11 a.m. EDT that day. Interested parties may listen to the conference call by
dialing 1-800-446-1671 (confirmation number 43396866) or by visiting MPLX's
website at http://www.mplx.com and clicking on the "2016 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 diversified, growth-oriented master limited partnership formed in
2012 by Marathon Petroleum Corporation to own, operate, develop and acquire
midstream energy infrastructure assets. We are engaged in the gathering,
processing and transportation of natural gas; the gathering, transportation,
fractionation, storage and marketing of natural gas liquids (NGLs); and the
transportation and storage of crude oil and refined petroleum 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, an inland marine business, a butane storage
cavern located in West Virginia with approximately 1 million barrels of storage
capacity, crude oil and product storage facilities (tank farms) with
approximately 4.5 million barrels of available storage capacity, a barge dock
facility with approximately 78,000 barrels per day of crude oil and product
throughput capacity, and gathering and processing assets that include more than
5,500 miles of gas gathering and NGL pipelines, 54 gas processing plants, 13 NGL
fractionation facilities and two condensate stabilization facilities.
Investor Relations Contacts:
Lisa D. Wilson (419) 421-2071
Teresa Homan (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
MPLX Distribution Increase:
http://hugin.info/155038/R/2051204/767418.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MPLX LP via GlobeNewswire
Datum: 25.10.2016 - 12:54 Uhr
Sprache: Deutsch
News-ID 502672
Anzahl Zeichen: 3966
contact information:
Town:
FINDLAY
Kategorie:
Business News
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