MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

The board of MPLX LP declared a quarterly cash distribution of $0.6875 per common unit for Q1 2021, equating to $2.75 annually. This distribution is set for payment on May 14, 2021, to unitholders of record by May 7, 2021. The release also informs that distributions to foreign investors will be subject to federal income tax withholding at the highest effective rate, as stipulated under Treasury Regulation Section 1.1446-4(b). MPLX is a master limited partnership involved in midstream energy infrastructure and distribution services.

Positive

• Quarterly cash distribution of $0.6875 per common unit shows consistent income support for unitholders.
• Annualized distribution stands at $2.75, suggesting a stable financial outlook.

Negative

• Distributions to foreign investors are subject to the highest federal income tax withholding, potentially reducing net income.

FINDLAY, Ohio, April 27, 2021 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.6875 per common unit for the first quarter of 2021, or $2.75 on an annualized basis. The distribution will be paid on May 14, 2021, to common unitholders of record as of May 7, 2021.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% 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.

About MPLX LP 

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.mplx.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President, Investor Relations
Taryn Erie, Manager, Investor Relations
Isaac Feeney, Analyst, Investor Relations

Media Contact: (419) 421-3312
Jamal Kheiry, Manager, Corporate Communications

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SOURCE MPLX LP

FAQ

What is MPLX's quarterly cash distribution for Q1 2021?

MPLX declared a quarterly cash distribution of $0.6875 per common unit for Q1 2021.

When will MPLX pay the cash distribution?

The cash distribution will be paid on May 14, 2021.

What is the annualized distribution amount for MPLX in 2021?

The annualized distribution amount for MPLX in 2021 is $2.75.

Who qualifies for the cash distribution from MPLX?

Common unitholders of record as of May 7, 2021, qualify for the cash distribution.

What tax implications are there for foreign investors receiving MPLX distributions?

Distributions to foreign investors are subject to federal income tax withholding at the highest effective rate.