Magellan Midstream (MMP) Completes Two-for-One LP Split

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Magellan Midstream Partners, L.P. (NYSE: MMP) has completed the previously announced two-for-one split of its limited partner units, which will begin trading on a post-split basis today.

Holders of record on Sept. 28, 2012 received one additional limited partner unit at the close of business on Oct. 12 for each unit owned on the record date. The partnership now has approximately 226.2 million units outstanding.

As a result of the two-for-one split, the current annualized cash distribution rate is now $1.885 per unit, or 47.125 cents per unit on a quarterly basis.

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