MPLX LP Increases Quarterly Distribution
April 22 2014 - 6:29AM
FINDLAY, Ohio, April 22, 2014 - MPLX LP (NYSE:
MPLX) today announced a cash distribution of $0.3275 per common
unit for the first quarter of 2014. This represents an increase of
$0.015 per unit, or 4.8 percent, over the previous quarterly
distribution and a 20.2 percent increase over the distribution in
the first quarter of 2013. MPLX has increased its distribution
every quarter since its initial public offering in October 2012,
consistent with the intent to maintain an attractive distribution
growth profile over an extended period of time. The first-quarter
distribution will be paid May 15, 2014, to unitholders of record
May 5, 2014.
On May 1, MPLX will provide an update on its 2014
first-quarter results through an earnings news release, to be
followed by a conference call scheduled for 2 p.m. EDT that day.
Interested investors can listen to the conference call on MPLX's
website at http://www.mplx.com by clicking on the "2014
First-Quarter Financial Results" link in the "News & Headlines"
section.
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 fee-based, growth-oriented master
limited partnership formed in 2012 by Marathon Petroleum
Corporation to own, operate, develop and acquire pipelines and
other midstream assets related to the transportation and storage of
crude oil, refined products and other hydrocarbon-based products.
Headquartered in Findlay, Ohio, MPLX's assets consist of a majority
equity interest in a network of common carrier crude oil and
products pipeline assets located in the Midwest and Gulf Coast
regions of the United States and a 100 percent interest in a butane
storage cavern located in West Virginia. For additional information
about the partnership, please see our website at
http://www.mplx.com.
Investor Relations
Contacts:
Beth Hunter (419) 421-2559
Geri Ewing (419) 421-2071
Media
Contacts:
Angelia Graves (419) 421-2703
Jamal Kheiry (419) 421-3312
MPLX Increases
Distribution
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: MPLX LP via Globenewswire
HUG#1778630
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