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The third-quarter distribution is 1% higher than the third-quarter 2008 distribution of 70.25 cents per unit and equal to the second-quarter 2009 distribution.
The distribution, which equates to $2.84 per unit on an annualized basis, will be paid Nov. 13 to unitholders of record at the close of business on Nov. 6.
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 | Quote | Chart | News | PowerRating) 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.
Portions of this document may constitute forward-looking statements as defined by federal law. Although management believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership's filings with the Securities and Exchange Commission.
Contact: Paula Farrell
(918) 574-7650
paula.farrell@magellanlp.com
SOURCE Magellan Midstream Partners, L.P.
http://www.magellanlp.com
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