MPLX LP (MPLX) will raise its quarterly distribution by 1.0 percent to $0.515 per unit. The distribution will be paid November 14, 2016, to unitholders of record as of November 4, 2016. 

Since the partnership`s initial public offering in October 2012, the MPLX board has authorized distribution increases for 15 consecutive quarters, representing a compound annual growth rate of 20 percent over the minimum quarterly distribution established at the partnership`s formation.

MPLX is a 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. MPLX was formed in 2012 by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets.