STOCK TITAN

MPLX LP Increases Quarterly Distribution

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

MPLX LP has announced a 12.5% increase in its quarterly cash distribution to $0.9565 per common unit for Q3 2024, equivalent to $3.826 annually. This represents a $0.1065 increase per common unit compared to Q2 2024. The distribution will be paid on November 15, 2024, to unitholders of record as of November 8, 2024. The announcement includes tax information for brokers and nominees handling MPLX units for non-U.S. investors, stating that 100% of distributions are subject to U.S. federal income tax withholding.

MPLX LP ha annunciato un incremento del 12,5% nella sua distribuzione trimestrale in contante, portandola a $0,9565 per unità comune per il terzo trimestre del 2024, equivalente a $3,826 annuali. Ciò rappresenta un incremento di $0,1065 per unità comune rispetto al secondo trimestre del 2024. La distribuzione sarà effettuata il 15 novembre 2024, a favore degli azionisti registrati al 8 novembre 2024. L'annuncio include informazioni fiscali per i broker e i nomi che gestiscono le unità MPLX per investitori non statunitensi, specificando che il 100% delle distribuzioni è soggetto a ritenuta d'imposta sul reddito federale statunitense.

MPLX LP ha anunciado un incremento del 12,5% en su distribución trimestral en efectivo a $0,9565 por unidad común para el tercer trimestre de 2024, equivalente a $3,826 anuales. Esto representa un aumento de $0,1065 por unidad común en comparación con el segundo trimestre de 2024. La distribución se pagará el 15 de noviembre de 2024, a los tenedores registrados a 8 de noviembre de 2024. El anuncio incluye información fiscal para corredores y nominados que manejan unidades de MPLX para inversores no estadounidenses, indicando que el 100% de las distribuciones están sujetas a retención de impuestos federales sobre la renta en EE.UU.

MPLX LP는 2024년 3분기에 12.5% 증가를 발표하며 분기 현금 분배를 $0.9565 per common unit으로 늘렸으며, 이는 연간 $3.826에 해당합니다. 이는 2024년 2분기 대비 공통 단위당 $0.1065의 증가를 나타냅니다. 분배금은 2024년 11월 15일에 지급되며, 2024년 11월 8일 기준의 등록된 유닛 소지자에게 지급됩니다. 이번 발표는 비 미국 투자자를 위한 MPLX 유닛을 처리하는 중개인 및 지명자에 대한 세금 정보를 포함하고 있으며, 모든 분배금은 미국 연방 소득세 원천징수의 대상이 된다고 명시하고 있습니다.

MPLX LP a annoncé une augmentation de 12,5% de sa distribution trimestrielle en espèces à $0,9565 par unité ordinaire pour le troisième trimestre 2024, équivalant à $3,826 par an. Cela représente une augmentation de $0,1065 par unité ordinaire par rapport au deuxième trimestre 2024. La distribution sera versée le 15 novembre 2024 aux détenteurs d’unités enregistrés au 8 novembre 2024. L'annonce comprend des informations fiscales pour les courtiers et les nommés gérant des unités MPLX pour des investisseurs non américains, indiquant que 100 % des distributions sont soumises à une retenue fiscale fédérale sur le revenu américain.

MPLX LP hat eine Steigerung von 12,5% bei seiner vierteljährlichen Barausschüttung auf $0,9565 pro Stammaktie für das 3. Quartal 2024 bekannt gegeben, was $3,826 jährlich entspricht. Dies stellt eine Erhöhung von $0,1065 pro Stammaktie im Vergleich zum 2. Quartal 2024 dar. Die Ausschüttung erfolgt am 15. November 2024 an die Aktionäre, die am 8. November 2024 eingetragen sind. Die Ankündigung enthält steuerliche Informationen für Broker und Nominees, die MPLX-Anteile für nicht US-amerikanische Investoren verwalten, mit der Angabe, dass 100% der Ausschüttungen der US-amerikanischen Einkommenssteuerunterhaltung unterliegen.

Positive
  • 12.5% increase in quarterly distribution
  • Distribution raised by $0.1065 per common unit
  • New quarterly distribution of $0.9565 per unit ($3.826 annualized)
Negative
  • None.

Insights

The significant 12.5% increase in quarterly distribution to $0.9565 per unit demonstrates MPLX's robust financial health and commitment to unitholder returns. This raise brings the annualized distribution to $3.826, marking a substantial $0.1065 increase per unit from the previous quarter.

This distribution hike is particularly noteworthy in the midstream energy sector, where steady cash flows from pipeline and storage assets typically support reliable but modest distribution growth. The double-digit increase suggests strong underlying business performance and excess distributable cash flow coverage. For income-focused investors, the enhanced payout strengthens MPLX's position as an attractive yield play in the energy infrastructure space.

FINDLAY, Ohio, Oct. 29, 2024 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.9565 per common unit for the third quarter of 2024, or $3.826 on an annualized basis.

This represents a 12.5% increase, or $0.1065 increase per common unit, over the second quarter 2024 distribution. The distribution will be paid on Nov. 15, 2024, to common unitholders of record as of Nov. 8, 2024.

Qualified Tax Notice

Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold MPLX units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of the Partnership's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not MPLX, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.

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 Finance and Investor Relations
Brian Worthington, Director, Investor Relations
Isaac Feeney, Manager, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

Cision View original content:https://www.prnewswire.com/news-releases/mplx-lp-increases-quarterly-distribution-302290296.html

SOURCE MPLX LP

FAQ

What is MPLX's new quarterly distribution for Q3 2024?

MPLX's new quarterly distribution is $0.9565 per common unit for Q3 2024, equivalent to $3.826 on an annualized basis.

When will MPLX (NYSE: MPLX) pay its Q3 2024 distribution?

MPLX will pay its Q3 2024 distribution on November 15, 2024, to unitholders of record as of November 8, 2024.

How much did MPLX increase its quarterly distribution in Q3 2024?

MPLX increased its quarterly distribution by 12.5%, or $0.1065 per common unit, compared to Q2 2024.

MPLX LP

NYSE:MPLX

MPLX Rankings

MPLX Latest News

MPLX Stock Data

49.25B
369.36M
63.75%
25.3%
0.93%
Oil & Gas Midstream
Pipe Lines (no Natural Gas)
Link
United States of America
FINDLAY