MPLX (MPLX) will raise its quarterly distribution by 1.6 percent to $0.6175 per unit in the second quarter of 2018. Last year MPLX hiked its distribution by a total of 14.6 percent.

The distribution yield for MPLX is 7.3% and 2018 marks the fifth consecutive year of distribution increases by the master limited partnership.

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.