Magellan Midstream Ups Quarterly Cash Distribution

(RTTNews) - Magellan Midstream Partners, L.P. (MMP) said Thursday that its board of directors has increased the partnership's quarterly cash distribution to 55.75 cents per unit for the period July 1 through Sept. 30, 2013.

The third-quarter 2013 distribution is 15% higher than the third-quarter 2012 distribution of 48.5 cents per unit and represents a 5% increase over the second-quarter 2013 distribution of 53.25 cents.

The new distribution, which equates to $2.23 per unit on an annualized basis, will be paid Nov. 14 to unitholders of record at the close of business on Nov. 7.