FINDLAY,
Ohio, Oct. 24, 2023 /PRNewswire/ -- The board of
directors of the general partner of MPLX LP (NYSE: MPLX) has
declared a quarterly cash distribution of $0.85 per common unit for the third quarter of
2023, or $3.40 on an annualized
basis.
This represents a 10% increase, or $0.075 increase per common unit, over the second
quarter 2023 distribution. The distribution will be paid on
Nov. 13, 2023, to common unitholders
of record as of Nov. 3, 2023.
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, Director,
Investor Relations
Isaac Feeney, Supervisor, Investor
Relations
Media Contact: (419) 421-3577
Jamal Kheiry,
Communications Manager
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SOURCE MPLX LP