On July 23, 2020, Magellan Midstream Partners, L.P. (NYSE: MMP) announced a quarterly cash distribution of $1.0275 per unit for the period of April 1 to June 30, 2020. This marks a 1% increase from the $1.0125 distribution in the same quarter of 2019 and remains consistent with the first quarter of 2020. The annualized distribution totals $4.11 per unit, scheduled for payment on August 14 to unitholders recorded by August 7. The partnership emphasizes that distributions to foreign investors are subject to federal income tax withholding.
Magellan Midstream Partners, L.P. (NYSE: MMP) is set to announce its second quarter 2020 financial results on July 30, 2020, before market opening. A conference call discussing earnings and outlook will take place at 1:30 p.m. Eastern on the same day. Magellan owns the longest refined petroleum products pipeline system in the U.S., with access to nearly 50% of the nation’s refining capacity and over 100 million barrels of storage capacity for petroleum products. Further details are available on their website.
Magellan Midstream Partners, L.P. (NYSE: MMP) announced participation by CEO Michael Mears in a Q&A session at the J.P. Morgan Energy, Power & Renewables Virtual Conference on June 17, 2020, at 10:10 a.m. Eastern. The session will be moderated by J.P. Morgan analyst Jeremy Tonet and will be accessible via live audio webcast on Magellan's website. Additionally, management will conduct virtual meetings with institutional investors, with slides available online. Magellan is a leading transporter and distributor of refined petroleum products and crude oil.