MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

The board of MPLX LP has declared a quarterly cash distribution of $0.6875 per common unit for Q4 2020, amounting to $2.75 annually. The payment date is set for February 12, 2021, with record holders as of February 8, 2021. This announcement serves as a qualified notice under Treasury Regulation Section 1.1446-4(b); foreign investors' distributions will be subject to federal income tax at the highest rate. MPLX operates midstream energy infrastructure, including pipelines and processing facilities across key U.S. supply basins.

Positive

• Quarterly cash distribution of $0.6875 per common unit.
• Annual distribution amounts to $2.75 per unit.
• Scheduled payment date of February 12, 2021.

Negative

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

FINDLAY, Ohio, Jan. 28, 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 fourth quarter of 2020, or $2.75 on an annualized basis. The distribution will be paid on Feb. 12, 2021, to common unitholders of record as of Feb. 8, 2021.

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 the MPLX LP quarterly cash distribution amount for Q4 2020?

MPLX LP has declared a cash distribution of $0.6875 per common unit for Q4 2020.

When will the MPLX LP distribution be paid?

The distribution will be paid on February 12, 2021.

Who is eligible for the MPLX LP distribution?

Common unitholders of record as of February 8, 2021, are eligible for the distribution.

What is the annualized distribution for MPLX LP?

The annualized distribution for MPLX LP is $2.75 per common unit.

Are MPLX LP distributions subject to tax for foreign investors?

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