MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

The board of directors of MPLX LP has declared a quarterly cash distribution of $0.6875 per common unit for Q3 2020, amounting to $2.75 annually. The payment date is set for November 13, 2020, with the record date on November 6, 2020. Furthermore, the release details that 100% of MPLX’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate. MPLX operates midstream energy infrastructure, including crude oil pipelines and processing facilities.

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• None.

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• Distributions to foreign investors subject to the highest federal income tax withholding rates.

FINDLAY, Ohio, Oct. 27, 2020 /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 third quarter of 2020, or $2.75 on an annualized basis. The distribution will be paid on Nov. 13, 2020, to common unitholders of record as of Nov. 6, 2020.

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.

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

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

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SOURCE MPLX LP

FAQ

What is MPLX's quarterly cash distribution for Q3 2020?

MPLX has declared a quarterly cash distribution of $0.6875 per common unit for Q3 2020.

When will MPLX's cash distribution be paid?

The cash distribution will be paid on November 13, 2020.

What is the annualized distribution amount for MPLX?

The annualized distribution amount for MPLX is $2.75.

What is the record date for MPLX's distribution?

The record date for MPLX's distribution is November 6, 2020.

How are MPLX distributions treated for foreign investors?

MPLX's distributions to foreign investors are treated as effectively connected income with a U.S. trade or business, subject to the highest federal tax withholding.