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Data last updated: Sep 06, 2026
Snapshot (as of Sep 06, 2026): MPLX Lp (MPLX) pays a $4.31 annual dividend ($1.08 quarterly), yielding 7.22% at $59.67/share. Next ex-dividend date 2026-08-07. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 7.22%
Annual Dividend: $4.31 per share
Payout Ratio: 110.5%
Ex-Dividend Date: 2026-08-07
Dividend Frequency: quarterly
Sector: Energy
Years of Dividend History: 14
MPLX Lp dividend income comes from one of the largest midstream energy infrastructure operators in the United States, handling natural gas gathering, crude oil transportation, and refined product storage across an extensive domestic network. The current yield stands at 7.22%, paid quarterly at $4.3060 per share on a trailing annual basis, with the next ex-dividend date on August 7, 2026. The last quarterly payment was $1.0765 per share. With a beta of 0.459, MPLX stock moves at less than half the volatility of the broader market, a profile that suits income investors who prioritize yield over price appreciation.
MPLX Lp pays out 110.5% of earnings as dividends, a payout ratio classified as high (above 75%). That figure exceeds 100%, meaning the partnership is paying more in distributions than it earns on a reported earnings basis, which is common for midstream MLPs where depreciation-heavy accounting depresses net income relative to actual cash generation from fee-based infrastructure operations. MPLX Lp dividend safety faces its most direct pressure from that elevated payout ratio, since any contraction in throughput volumes or fee revenue across its logistics, storage, and gathering segments would leave less room to sustain the current distribution level.
MPLX Lp dividend history shows a CAGR of 11.8% per year from 2013 to 2025. Per-share payments grew from $1.0319 to $3.9460 over that period (2026 data is a partial year and excluded from the growth calculation). The largest annual increase in the window was 29.9% in 2014, though the data also contains at least one year-over-year decline exceeding 5%, with 2022 recording $2.8900 against $3.3430 in 2021.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +10.9% | $2.89 (2022) | $3.95 (2025) |
| 5-Year | +7.5% | $2.75 (2020) | $3.95 (2025) |
| 10-Year | +8.8% | $1.70 (2015) | $3.95 (2025) |
MPLX Lp stock fits dividend investors who want a high current yield from fee-based midstream infrastructure and can accept an elevated payout ratio as part of that trade. The yield of 7.22% is classified as high (above 4%) and sits well above the 5-year average of 5.65%, which means buyers today are getting more income per dollar than the historical norm. The 11.8% CAGR over twelve years shows the distribution has grown at a meaningful pace, but the 110.5% payout ratio is the central tension: income is generous, and the underlying business spans essential logistics assets, but the margin for error on sustaining that payout is narrow.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-07 | $1.0765 |
| 2026-05-08 | $1.0765 |
| 2026-02-09 | $1.0765 |
| 2025-11-07 | $1.0765 |
| 2025-08-08 | $0.9565 |
| 2025-05-09 | $0.9565 |
| 2025-02-03 | $0.9565 |
| 2024-11-08 | $0.9565 |
| 2024-08-09 | $0.8500 |
| 2024-05-02 | $0.8500 |
| Year | Total Dividends |
|---|---|
| 2026 | $3.2295 |
| 2025 | $3.9460 |
| 2024 | $3.5065 |
| 2023 | $3.1750 |
| 2022 | $2.8900 |
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