#United States #Midstream Energy #cash distribution #MPLX #Findlay

MPLX LP Declares Quarterly Cash Distribution

MPLX LP, a significant player in the energy sector, has officially announced a quarterly cash distribution of $0.9565 per common unit for the fourth quarter of 2024. This announcement comes from the board of directors of MPLX's general partner, affirming the company's ongoing commitment to deliver value to its unitholders.

Key Details of the Announcement

The distribution amount translates to an annualized payout of $3.826 per common unit. This anticipated distribution is set to be disbursed on February 14, 2025, to those unitholders whose records will be finalized by February 3, 2025. This announcement is especially noteworthy as it reflects MPLX’s financial stability and resilient operations amidst fluctuating market conditions.

Tax Considerations for Non-U.S. Investors

As part of this distribution announcement, the company also highlighted tax responsibilities for brokers and nominees managing common units held by non-U.S. investors. Under the Treasury Regulation provisions, all distributions allotted to non-U.S. investors are treated as income connected to a United States trade or business. As a result, these distributions will incur federal income tax withholding at the highest applicable rate. It is essential for brokers and financial representatives to be aware of these regulations in order to comply efficiently.

Understanding MPLX and Its Operations

MPLX LP is recognized as a diversified, large-cap master limited partnership that operates primarily in the midstream energy sector. The company manages a wide range of assets, which include crude oil and refined product pipelines, an inland marine business, and various storage and logistics facilities. These operational aspects are critical as they support the ongoing distribution of fuels and energy resources across the United States.

The company is structured to facilitate an efficient transfer of energy by maintaining an extensive network that includes marine terminals and processing facilities. Additionally, MPLX owns and operates gathering systems and pipelines for both crude oil and natural gas, ensuring a comprehensive approach to manage energy supply.

Future Outlook

MPLX’s management anticipates continued growth within their operational frameworks, focusing on expanding their pipeline capacity and enhancing existing infrastructure to meet rising energy demands. As MPLX LP prepares to share further details on their performance, there is keen anticipation for the upcoming financial results of the fourth quarter and full year of 2024, which are scheduled for reporting on February 4, 2025.

This commitment to transparency reinforces MPLX's intent to keep investors informed and engaged with their operations, ultimately striving for sustainable growth in the energy sector.

For more information on MPLX LP, you can visit their official site at www.MPLX.com.