FINDLAY, Ohio, April 29, 2019 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.6575 per common unit for the first quarter 2019, or $2.63 on an annualized basis.
This represents an increase of $0.01 per unit, or 1.5 percent, over the fourth quarter 2018 distribution, and an increase of $0.04 per unit, or 6.5 percent, over the first quarter 2018 distribution. This is the 25th consecutive quarterly distribution increase and will be paid on May 15, 2019, to common unitholders of record as of May 9, 2019.
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 Contact:
Kristina Kazarian (419) 421-2071
Chuck Rice (419) 421-2521
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SOURCE MPLX LP