MPLX LP Announces Quarterly Distribution

Rhea-AI Summary

MPLX LP (NYSE: MPLX) has announced its quarterly cash distribution for Q4 2024. The company will distribute $0.9565 per common unit, equivalent to $3.826 on an annualized basis. The distribution is scheduled for payment on February 14, 2025, to unitholders of record as of February 3, 2025.

The announcement includes a qualified tax notice for brokers and nominees holding MPLX units for non-U.S. investors. The notice specifies that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate, being treated as income effectively connected with U.S. trade or business.

Positive

• Maintaining consistent quarterly distribution payments to unitholders
• Clear distribution structure with $3.826 annualized payout

Negative

• None.

News Market Reaction – MPLX

-1.33%

1 alert

-1.33% News Effect

On the day this news was published, MPLX declined 1.33%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

FINDLAY, Ohio, Jan. 22, 2025 /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 fourth quarter of 2024, or $3.826 on an annualized basis. The distribution will be paid on Feb. 14, 2025, to common unitholders of record as of Feb. 3, 2025.

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

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

View original content:https://www.prnewswire.com/news-releases/mplx-lp-announces-quarterly-distribution-302357709.html

SOURCE MPLX LP

FAQ

What is MPLX's Q4 2024 quarterly distribution amount?

MPLX's quarterly distribution for Q4 2024 is $0.9565 per common unit, which equals $3.826 on an annualized basis.

When will MPLX pay its Q4 2024 distribution?

MPLX will pay its Q4 2024 distribution on February 14, 2025, to unitholders of record as of February 3, 2025.

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

100% of MPLX distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate and are treated as income effectively connected with U.S. trade or business.

What is the annual distribution rate for MPLX based on Q4 2024?

Based on the Q4 2024 quarterly distribution of $0.9565, MPLX's annualized distribution rate is $3.826 per common unit.