MPLX LP Announces Quarterly Distribution for Third Quarter of $1.28 per Common Unit, Including an Increase to the Base Distribution Amount and a Special Distribution Amount

Rhea-AI Summary

The board of MPLX LP has declared a quarterly cash distribution of $1.28 per common unit for Q3 2021. This includes a base distribution of $0.7050 per unit, reflecting a 2.5% increase from Q2 2021, and a special distribution of $0.5750 per unit. The distribution will be paid on Nov. 19, 2021 to unitholders of record as of Nov. 12, 2021. The announcement highlights MPLX's commitment to returning value to its investors amidst its diversified midstream energy operations.

Positive

• Quarterly cash distribution of $1.28 per unit announced.
• Base distribution increased by $0.0175, or 2.5% from Q2 2021.

Negative

• None.

FINDLAY, Ohio, Nov. 2, 2021 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $1.28 per common unit for the third quarter of 2021, including a base distribution amount of $0.7050 per common unit, or $2.82 on an annualized basis, and a special distribution amount of $0.5750 per common unit. The base distribution amount represents an increase of $0.0175 per common unit, or approximately 2.5%, over the second quarter 2021 distribution. The distribution will be paid on Nov. 19, 2021 to common unitholders of record as of Nov. 12, 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 Contact: (419) 421-2071
Kristina Kazarian, Vice President
Jamie Madere, Manager
Isaac Feeney, Analyst

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

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SOURCE MPLX LP

FAQ

What is the MPLX distribution amount for Q3 2021?

MPLX declared a quarterly cash distribution of $1.28 per common unit for Q3 2021.

When will MPLX distribute its Q3 2021 payments?

The distribution will be paid on Nov. 19, 2021, to unitholders of record as of Nov. 12, 2021.

What is the increase in MPLX's base distribution for Q3 2021?

The base distribution increased by $0.0175, or approximately 2.5%, over Q2 2021.

What portion of the MPLX distribution is a special payment?

The special distribution amount is $0.5750 per common unit.

Is MPLX's distribution subject to tax for foreign investors?

Yes, MPLX's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.