www.magellanlp.com

01/26/2012


Magellan Midstream Raises Quarterly Cash Distribution to 81.5 Cents

TULSA, Okla. – The board of directors of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership’s quarterly cash distribution to 81.5 cents per unit for the period Oct. 1 through Dec. 31, 2011, representing the 39th distribution increase since its initial public offering in 2001.  

The fourth-quarter 2011 distribution is 2% higher than the third-quarter 2011 distribution of 80 cents per unit and represents an 8% increase over the fourth-quarter 2010 distribution of 75.75 cents. For the year, Magellan declared distributions of $3.17 per unit for 2011, or 7% higher than distributions of $2.955 per unit for 2010.  

The new distribution, which equates to $3.26 per unit on an annualized basis, will be paid Feb. 14 to unitholders of record at the close of business on Feb. 7. 

The partnership plans to announce fourth-quarter earnings before the market opens on Tues., Feb. 7.  An analyst conference call is scheduled at 1:30 p.m. Eastern the same day, during which management plans to discuss fourth-quarter results and 2012 guidance. To participate, dial (800) 289-0463 and provide code 4406896. Investors also may listen to the call via the partnership’s website at http://www.magellanlp.com/webcasts.aspx 

This announcement is intended to be a qualified notice to nominees 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, the partnership’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, such as gasoline and diesel fuel, and crude oil. The partnership’s primary assets include: the longest petroleum products pipeline system in the continental United States at 9,600 miles, which can access more than 40% of the country’s refining capacity and imports, as well as more than 80 petroleum terminals with over 75 million barrels of storage. More information is available at http://www.magellanlp.com. 

 

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Contact Information:

Paula Farrell Investor Relations 918-574-7650 paula.farrell@magellanlp.com