MPLX LP increases quarterly distribution
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 25, 2017 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.5875 per common unit for the third quarter of 2017. This represents an
increase of $0.025 per unit, or 4 percent, over the second-quarter 2017
distribution, and an increase of $0.0725 per unit, or 14 percent, over the
third-quarter 2016 distribution. Since the partnership's initial public offering
in October 2012, the MPLX board has authorized distribution increases for 19
consecutive quarters, representing a compound annual growth rate of 18 percent
over the minimum quarterly distribution established at the partnership's
formation. The distribution will be paid Nov. 14, 2017, to common unitholders of
record as of Nov. 6, 2017.
On Oct. 26, MPLX will provide an update on its 2017 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 1-888-606-5719 (confirmation number 6033306) or by visiting MPLX's
website at http://www.mplx.com and clicking on the "2017 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 NGLs; and the transportation, storage
and distribution of crude oil and refined petroleum products. Headquartered in
Findlay, Ohio, MPLX's assets consist of a network of crude oil and products
pipeline assets located in the Midwest and Gulf Coast regions of the United
States; 62 light-product terminals with approximately 24 million barrels of
storage capacity; an inland marine business; storage caverns with approximately
2.8 million barrels of storage capacity; crude oil and product storage
facilities (tank farms) with approximately 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 approximately 5.9 billion cubic feet per day of gathering
capacity, 8 billion cubic feet per day of natural gas processing capacity and
570,000 barrels per day of fractionation capacity.
Investor Relations Contacts:
Lisa 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:
http://hugin.info/155038/R/2144759/822033.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: 25.10.2017 - 21:06 Uhr
Sprache: Deutsch
News-ID 565311
Anzahl Zeichen: 4065
contact information:
Town:
FINDLAY
Kategorie:
Business News
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