MPLX LP increases quarterly distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Jan. 25, 2017 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.52 per common unit for the fourth quarter of 2016. This represents an
increase of $0.005 per unit, or 1 percent, over the third-quarter 2016
distribution, an increase of $0.02 per unit, or 4 percent, over the fourth-
quarter 2015 distribution, and a 13 percent increase on a full-year basis over
2015 distributions. Since the partnership's initial public offering in October
2012, the MPLX board has authorized distribution increases for 16 consecutive
quarters, representing a compound annual growth rate of 19 percent over the
minimum quarterly distribution established at the partnership's formation. The
distribution will be paid Feb. 14, 2017, to common unitholders of record as of
Feb. 6, 2017.
On Feb. 1, MPLX will provide an update on its 2016 fourth-quarter and full-year
results through an earnings release, to be followed by a conference call
scheduled for 11 a.m. EST that day. Interested parties may listen to the
conference call by dialing 1-800-446-1671 (confirmation number 44084608) or by
visiting MPLX's website at http://www.mplx.com and clicking on the "2016 Fourth-
Quarter and Full-Year 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 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 one million barrels of storage capacity; crude oil
and product storage facilities (tank farms) with approximately 5.0 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 5,600 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
Doug Wendt (419) 421-2423
Denice Myers (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
MPLX Distribution Increase:
https://hugin.info/155038/R/2073450/779380.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: 25.01.2017 - 21:29 Uhr
Sprache: Deutsch
News-ID 520016
Anzahl Zeichen: 4068
contact information:
Town:
FINDLAY
Kategorie:
Business News
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