MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

MPLX (NYSE: MPLX) declared a quarterly cash distribution of $1.0765 per common unit for the fourth quarter of 2025, equal to an annualized $4.31 per unit. The distribution will be paid on Feb. 17, 2026 to unitholders of record as of Feb. 9, 2026.

Concurrent qualified tax notice directs brokers and nominees to treat 100% of distributions to non-U.S. investors as effectively connected income and in excess of cumulative net income, subjecting those distributions to federal withholding at the highest applicable effective tax rate; nominees are the withholding agents.

Positive

• Quarterly distribution of $1.0765 per common unit
• Annualized distribution of $4.31 per unit
• Payment date set for Feb. 17, 2026; record date Feb. 9, 2026

Negative

• Distributions to non-U.S. investors are subject to federal withholding at the highest effective tax rate
• Nominees and brokers, not MPLX, are responsible as withholding agents for non-U.S. investors

Key Figures

Quarterly distribution: $1.0765 per common unit Annualized distribution: $4.31 per common unit Payment date: Feb. 17, 2026 +3 more

6 metrics

Quarterly distribution $1.0765 per common unit Declared for Q4 2025

Annualized distribution $4.31 per common unit Implied by Q4 2025 declaration

Payment date Feb. 17, 2026 Cash distribution pay date

Record date Feb. 9, 2026 Unitholders of record eligibility date

Taxable portion 100% of distribution Treated as effectively connected income for non-U.S. investors

Excess over net income 100% of distribution Treated as in excess of cumulative net income for withholding

Market Reality Check

Price: $55.75 Vol: Volume 1,416,339 is sligh...

normal vol

$55.75 Last Close

Volume Volume 1,416,339 is slightly below the 20-day average of 1,504,690 ahead of the distribution news. normal

Technical Shares at $55.75 are trading above the 200-day MA of $51.59, near the 52-week high of $57.155.

Peers on Argus

MPLX gained 0.04% with peers like OKE (+1.62%), ET (+1.33%), and KMI (+1.11%) al...

MPLX gained 0.04% with peers like OKE (+1.62%), ET (+1.33%), and KMI (+1.11%) also positive, indicating a broader midstream bid alongside the distribution announcement.

Historical Context

5 past events · Latest: Jan 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 05	Earnings date notice	Neutral	-2.0%	Announcement of timing for Q4 and full-year 2025 results call.
Nov 24	Pipeline JV expansion	Positive	-1.5%	Eiger Express mainline capacity increase with MPLX as JV owner.
Nov 13	Asset divestiture	Neutral	-1.0%	Sale of Rockies gathering and processing assets to Harvest Midstream.
Nov 04	Leadership change	Neutral	+0.7%	Maryann T. Mannen elected chairman of the general partner board.
Nov 04	Earnings & distribution	Positive	+0.7%	Q3 2025 results and 12.5% increase in quarterly distribution.

Pattern Detected

Recent MPLX headlines have often been followed by modest single-day moves, with one notable divergence on positive infrastructure news.

Recent Company History

Over the last few months, MPLX has highlighted strategic and capital-return actions, including a 12.5% distribution increase to an annualized $4.31 per unit on Nov. 4, 2025 and major M&A and financing steps. Governance changes, such as electing Maryann T. Mannen as chairman effective Jan. 1, 2026, and pipeline JV expansion news have also featured. The current distribution declaration continues the capital-return focus signaled in the Q3 2025 earnings release.

Market Pulse Summary

This announcement confirms a quarterly cash distribution of $1.0765 per common unit, or $4.31 on an ...

Analysis

This announcement confirms a quarterly cash distribution of $1.0765 per common unit, or $4.31 on an annualized basis, extending MPLX’s income-return focus highlighted in prior results. The qualified tax notice is important for non‑U.S. investors, since brokers must treat 100% of distributions as effectively connected income and as in excess of cumulative net income for withholding. Investors may watch upcoming earnings, capital-allocation updates, and any changes to distribution policy or tax treatment for further context.

Key Terms

qualified notice, treasury regulation section 1.1446-4(b), effectively connected, federal income tax withholding, +1 more

5 terms

qualified notice regulatory

"Concurrent with this announcement we are providing qualified notice to brokers"

A qualified notice is a formal communication that meets the specific wording, timing and delivery rules set out in a contract, corporate policy or law so it is legally effective. Think of it like a certified letter that ticks every checkbox required by an agreement. Investors care because only a qualified notice can trigger rights or changes — such as deadlines, payments, defaults or board actions — and thus can materially affect a company’s obligations and share value.

treasury regulation section 1.1446-4(b) regulatory

"under Treasury Regulation Section 1.1446-4(b) and (d)"

A U.S. Treasury regulation that explains when and how a purchaser of a partnership interest must withhold tax when the seller is a foreign person, implementing the withholding rules of Internal Revenue Code section 1446. It matters to investors because it can affect the cash a buyer must hold back at closing (similar to a cashier keeping part of a sale until taxes are cleared), which changes deal proceeds, tax reporting, and timing of when funds become available.

effectively connected regulatory

"income that is effectively connected with a United States trade or business."

Income or gains that are treated for U.S. tax purposes as arising from a taxpayer’s regular business activities in the United States; think of it as money that is 'tied to' active operations in the U.S. rather than passive holdings. Investors care because income deemed effectively connected often faces different tax rates, withholding rules and reporting requirements, which can change after-tax returns and the paperwork or withholding applied to payouts.

federal income tax withholding regulatory

"subject to federal income tax withholding at the highest applicable"

Federal income tax withholding is the portion of an employee’s wages that an employer automatically sends to the government to cover that person’s expected federal income tax bill. Think of it like an automatic savings pot taken from each paycheck so the worker doesn’t face a large one-time tax payment; for investors, withholding affects disposable income, cash flow planning, and the timing of tax liabilities tied to salary, dividends, or retirement distributions.

withholding agents regulatory

"Nominees, and not MPLX, are treated as the withholding agents"

A withholding agent is an entity (often an employer, broker, or payer) that is legally required to hold back and remit taxes or other required amounts from payments made to a recipient, such as wages, dividends, interest, or contractor fees. For investors, this matters because withheld amounts affect the cash they receive, determine tax reporting and potential refunds, and influence net returns in cross-border or taxable transactions — like a cashier keeping part of a payment to cover a bill.

AI-generated analysis. Not financial advice.

FINDLAY, Ohio, Jan. 29, 2026 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $1.0765 per common unit for the fourth quarter of 2025, or $4.31 on an annualized basis. The distribution will be paid on Feb. 17, 2026, to common unitholders of record as of Feb. 9, 2026.

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, Senior Director, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations

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

View original content:https://www.prnewswire.com/news-releases/mplx-lp-announces-quarterly-distribution-302674190.html

SOURCE MPLX LP

FAQ

What distribution did MPLX (MPLX) announce for Q4 2025?

MPLX announced a $1.0765 quarterly cash distribution per common unit for Q4 2025. According to the company, that equals an $4.31 annualized rate and will be paid to holders of record on Feb. 9, 2026.

When will MPLX (MPLX) pay the Q4 2025 distribution and who is the record date?

The distribution will be paid on Feb. 17, 2026 with a record date of Feb. 9, 2026. According to the company, eligible common unitholders of record as of Feb. 9 will receive the payment on Feb. 17.

How are MPLX (MPLX) distributions taxed for non-U.S. investors?

Non-U.S. investors' distributions are treated as effectively connected income and excess of cumulative net income, subject to withholding. According to the company, brokers should withhold federal tax at the highest applicable effective rate on those distributions.

Who is responsible for withholding on MPLX (MPLX) distributions to non-U.S. investors?

Nominees and brokers holding units on behalf of non-U.S. investors are the withholding agents. According to the company, nominees — not MPLX — must withhold and remit the required federal tax on distributions.