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.
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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
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
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