Benzinga | Nov 2, 2021 10:44AM EDT

MPLX LP Announced Quarterly Distribution for Q3r of $1.28 per Common Unit; Includes Increase to the Base Distribution Amount and a Special Distribution Amount

The board of directors of the general partner of MPLX LP (NYSE:MPLX) has declared a quarterly cash distribution of $1.28 per common unit for the third quarter of 2021, including a base distribution amount of $0.7050 per common unit, or $2.82 on an annualized basis, and a special distribution amount of $0.5750 per common unit. The base distribution amount represents an increase of $0.0175 per common unit, or approximately 2.5%, over the second quarter 2021 distribution. The distribution will be paid on Nov. 19, 2021 to common unitholders of record as of Nov. 12, 2021.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% 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.