MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

The board of MPLX LP has declared a quarterly cash distribution of $0.7050 per common unit for Q2 2022, totaling $2.82 annually. This distribution will be paid on Aug. 12, 2022, to common unitholders of record by Aug. 5, 2022. It is important to note that 100% of MPLX's distributions to foreign investors will be attributed to effectively connected income, leading to federal income tax withholding at the highest applicable rate. MPLX is a large-cap master limited partnership focused on midstream energy infrastructure and logistics.

Positive

• Quarterly cash distribution declared at $0.7050 per common unit.
• Annualized distribution amounts to $2.82.
• Scheduled payment date of Aug. 12, 2022, confirms consistent cash flow to investors.

Negative

• Distributions to foreign investors subjected to highest federal income tax withholding.

FINDLAY, Ohio, July 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 second quarter of 2022, or $2.82 on an annualized basis. The distribution will be paid on Aug. 12, 2022, to common unitholders of record as of Aug. 5, 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

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SOURCE MPLX LP

FAQ

What is the MPLX quarterly cash distribution for Q2 2022?

MPLX has declared a quarterly cash distribution of $0.7050 per common unit for Q2 2022.

When will the MPLX distribution be paid?

The distribution will be paid on August 12, 2022.

What is the annualized distribution amount for MPLX in 2022?

The annualized distribution for MPLX in 2022 is $2.82.

What is the record date for the MPLX Q2 2022 distribution?

The record date for the MPLX Q2 2022 distribution is August 5, 2022.

Are MPLX distributions subject to tax for foreign investors?

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