MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

MPLX LP has announced a quarterly cash distribution of $0.7050 per common unit for Q1 2022, equating to $2.82 on an annualized basis. This payment will be made on May 13, 2022, to unitholders of record by May 6, 2022. The company highlights that 100% of MPLX's distributions to foreign investors will be considered as effectively connected income with a U.S. trade or business, thus subject to federal income tax withholding at the highest rate. MPLX operates midstream energy infrastructure, pipelines, and logistics assets across the U.S.

Positive

• Quarterly cash distribution of $0.7050 per common unit.
• Annualized distribution of $2.82, signaling stable income for investors.
• Distribution payment scheduled for May 13, 2022, ensuring timely returns.

Negative

• Distributions to foreign investors subject to high federal income tax withholding.

FINDLAY, Ohio, April 26, 2022 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.7050 per common unit for the first quarter of 2022, or $2.82 on an annualized basis. The distribution will be paid on May 13, 2022, to common unitholders of record as of May 6, 2022.

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
Jamie Madere, Manager
Isaac Feeney, Analyst

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

View original content:https://www.prnewswire.com/news-releases/mplx-lp-announces-quarterly-distribution-301533457.html

SOURCE MPLX LP

FAQ

What is MPLX's quarterly cash distribution for Q1 2022?

MPLX's quarterly cash distribution for Q1 2022 is $0.7050 per common unit.

When will MPLX pay its quarterly distribution?

MPLX will pay its quarterly distribution on May 13, 2022.

When is the record date for MPLX's distribution?

The record date for MPLX's distribution is May 6, 2022.

What is the annualized distribution for MPLX in 2022?

The annualized distribution for MPLX in 2022 is $2.82.

Are MPLX's distributions to foreign investors taxed?

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