MPLX (MPLX) will raise its quarterly distribution to $0.59 per unit. The distribution will be paid Nov. 14, 2017, to common unitholders of record as of Nov. 6, 2017.

Since the partnership's initial public offering in October 2012, the MPLX board has authorized distribution increases for 19 consecutive quarters, representing a compound annual growth rate of 18 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.