Magellan Midstream Partners Declares Second-Quarter Cash Distribution
TULSA, Okla. – The board of directors for the general partner of Magellan Midstream Partners, L.P. (NYSE: MMP) has declared the partnership’s quarterly cash distribution of 71 cents per unit for the period April 1 through June 30, 2009.
The second-quarter distribution is 3% higher than the second-quarter 2008 distribution of 68.75 cents per unit and equal to the first-quarter 2009 distribution.
The distribution, which equates to $2.84 per unit on an annualized basis, will be paid Aug. 14, 2009 to unitholders of record at the close of business on Aug. 7.
This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, Magellan’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products. More information is available at http://www.magellanlp.com. MMP’s general partner interest and related incentive distribution rights are owned by Magellan Midstream Holdings, L.P. (NYSE: MGG).
$USD 329.00
$USD 329.00
$USD 329.00
