Tulsa-based Magellan Midstream ups cash distribution to 50 cents per unit
BY ROD WALTON World Staff Writer
Tuesday, January 22, 2013
Magellan Midstream Partners LP’s board of directors announced Tuesday that it increased the fourth-quarter cash distribution to 50 cents per unit.
The quarterly payout will be made Feb. 14 to unitholders of record on Feb. 6. Magellan Midstream Partners’ distribution for the past quarter is 23 percent higher than the 40.75 cents per unit paid for the same period of the previous year, taking the company’s October 2012 two-for-one stock split into account.
Magellan Midstream Partners is a Tulsa-based refined petroleum and crude oil pipeline and storage firm.