MPLX increases quarterly distribution 10% to 85c per common unit

The board of directors of the general partner of MPLX LP has declared a quarterly cash distribution of 85c per common unit for the third quarter of 2023, or $3.40 on an annualized basis. This represents a 10% increase, or 7.5c increase per common unit, over the second quarter 2023 distribution. The distribution will be paid on Nov. 13 to common unitholders of record as of Nov. 3, the company stated.