MPLX LP
MPLXEnergy · Oil & Gas Midstream · Stock · quarterly payer
Forward Yield
7.34%
Annual Dividend
$4.31
Payout Ratio
90%
5-Yr Growth
7.5%
Ex-Date
Aug 7, 2026
Frequency
Quarterly
Key facts about MPLX's dividend
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, MPLX LP (MPLX) has a forward dividend yield of 7.34%, based on an annual dividend of $4.31 per share and a share price of $58.65.
- As of Oct 27, 2026, MPLX's dividend safety grade from SmarterDividends is A (80 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, MPLX LP (MPLX) has raised its dividend for 4 consecutive years as of Oct 27, 2026.
- MPLX has never cut its regular dividend in the payment history SmarterDividends has on record.
- MPLX's most recent ex-dividend date was Aug 7, 2026, for a dividend of $1.08 per share.
- As of Oct 27, 2026, MPLX pays out 90% of its trailing 12-month earnings as dividends (its payout ratio).
- MPLX's dividend has grown at an average rate of 7.5% a year over the past five years.
- As of Oct 27, 2026, MPLX's 7.34% yield is 20% below its five-year average yield of 9.15%.
- As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for MPLX is $96.05 per share, 64% above the $58.65 share price, so MPLX screens as undervalued.
- MPLX LP (MPLX) pays its dividend quarterly, 4 times a year.
- MPLX LP (MPLX) has raised its regular dividend 33 times and cut it 0 times across the 55 payments on record since 2013. Its most recent change was a 12.5% increase to $1.08 per share, going ex-dividend on Nov 7, 2025.
- MPLX LP (MPLX) has declared its first higher dividend of the year in October in 3 of the last 5 years; its most recent raise, 12.5%, was declared on Oct 28, 2025.
Cite this page
SmarterDividends, "MPLX Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/MPLX
Summary
As of Oct 27, 2026, MPLX LP (MPLX) yields 7.34% ($4.31 a year per share), has a dividend safety grade of A (80/100) and has 4 consecutive years of dividend increases on record.
Is MPLX a good dividend stock?
YesMPLX LP (MPLX) pays a quarterly dividend yielding 7.34% ($4.31/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Never cut its dividend on record
- Strong 7.5% 5-yr dividend growth
- 102% total price return over 5 years
- Top-tier dividend safety score
Risks
- Elevated payout ratio (90%)
Key Data
- Dividend Yield
- 7.34%
- Payout Ratio
- 90%
- Annual Dividend
- $4.31
- 5-Yr Avg Growth
- 7.5%
- Ex-Dividend Date
- Aug 7, 2026
- Years of Growth
- 4
- Frequency
- quarterly
- Beta
- 0.48
- Market Cap
- $59.5B
- P/E Ratio
- 12.6
- 5-Yr Total Return
- 102%
- 52-Week Range
- $50.22 – $60.95
- Dividend Safety
- A · 80/100
- Ever Cut?
- No
MPLX dividend raises and cuts
MPLX LP (MPLX) has raised its regular dividend 33 times and cut it 0 times across the 55 payments on record since 2013. Its most recent change was a 12.5% increase to $1.08 per share, going ex-dividend on Nov 7, 2025.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 7, 2025 | Raise | $0.957 → $1.08 | +12.5% |
| Nov 8, 2024 | Raise | $0.850 → $0.957 | +12.6% |
| Nov 2, 2023 | Raise | $0.775 → $0.850 | +9.7% |
| Nov 14, 2022 | Raise | $0.705 → $0.775 | +9.9% |
| Feb 3, 2022 | Raise | $0.688 → $0.705 | +2.5% |
| Feb 3, 2020 | Raise | $0.678 → $0.688 | +1.5% |
| Nov 1, 2019 | Raise | $0.668 → $0.678 | +1.5% |
| Aug 2, 2019 | Raise | $0.658 → $0.668 | +1.5% |
| May 8, 2019 | Raise | $0.648 → $0.658 | +1.5% |
| Feb 4, 2019 | Raise | $0.638 → $0.648 | +1.6% |
| Nov 2, 2018 | Raise | $0.628 → $0.638 | +1.6% |
| Aug 3, 2018 | Raise | $0.618 → $0.628 | +1.6% |
Show all 33 changes since 2013
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| May 4, 2018 | Raise | $0.608 → $0.618 | +1.6% |
| Feb 2, 2018 | Raise | $0.588 → $0.608 | +3.4% |
| Nov 3, 2017 | Raise | $0.563 → $0.588 | +4.4% |
| Aug 3, 2017 | Raise | $0.540 → $0.563 | +4.3% |
| May 4, 2017 | Raise | $0.520 → $0.540 | +3.8% |
| Feb 2, 2017 | Raise | $0.515 → $0.520 | +1.0% |
| Nov 2, 2016 | Raise | $0.510 → $0.515 | +1.0% |
| Jul 29, 2016 | Raise | $0.505 → $0.510 | +1.0% |
| Apr 29, 2016 | Raise | $0.500 → $0.505 | +1.0% |
| Feb 2, 2016 | Raise | $0.470 → $0.500 | +6.4% |
| Oct 30, 2015 | Raise | $0.440 → $0.470 | +6.8% |
| Jul 31, 2015 | Raise | $0.410 → $0.440 | +7.3% |
| May 1, 2015 | Raise | $0.383 → $0.410 | +7.0% |
| Jan 30, 2015 | Raise | $0.358 → $0.383 | +7.0% |
| Oct 31, 2014 | Raise | $0.343 → $0.358 | +4.4% |
| Jul 31, 2014 | Raise | $0.328 → $0.343 | +4.6% |
| May 1, 2014 | Raise | $0.313 → $0.328 | +4.8% |
| Jan 31, 2014 | Raise | $0.297 → $0.313 | +5.4% |
| Oct 31, 2013 | Raise | $0.285 → $0.297 | +4.2% |
| Jul 31, 2013 | Raise | $0.273 → $0.285 | +4.4% |
| May 8, 2013 | Raise | $0.177 → $0.273 | +54.2% |
Frequently Asked Questions
Is MPLX a good dividend stock?
Yes. MPLX LP (MPLX) pays a quarterly dividend yielding 7.34% ($4.31/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is MPLX undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MPLX's fair value is about $96.05 versus a $58.65 share price — so it looks undervalued (+64% vs. fair value).
Is MPLX's dividend safe?
MPLX has a dividend-safety grade of A (80/100), based on its payout coverage, free-cash-flow, 4-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is MPLX's fair value?
Our blended fair-value estimate for MPLX is about $96.05 per share, roughly 64% above the current $58.65 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is MPLX a buy, hold, or sell?
We don't issue formal ratings, but on the data MPLX screens as "yes" and undervalued. MPLX LP (MPLX) pays a quarterly dividend yielding 7.34% ($4.31/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will MPLX cut its dividend?
MPLX earns a dividend-safety grade of A (80/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does MPLX pay a dividend?
Yes. MPLX LP pays a quarterly dividend of about $4.31 per share annually, a forward yield of roughly 7.34%.
What is MPLX's dividend yield?
As of Oct 27, 2026, MPLX's forward dividend yield is 7.34%, based on a $4.31 annual dividend and a $58.65 share price.
What is MPLX's dividend per share?
As of Oct 27, 2026, MPLX pays $4.31 per share per year, distributed on a quarterly basis.
What is MPLX's dividend payout ratio?
As of Oct 27, 2026, MPLX's payout ratio is 90% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.
How many years has MPLX grown its dividend?
As of Oct 27, 2026, MPLX has increased its dividend for 4 consecutive years.
When is the next MPLX ex-dividend date?
As of Oct 27, 2026, MPLX's next ex-dividend date hasn't been announced. The most recent was Aug 7, 2026, for $1.08 per share.
MPLX Price — Last 12 Months
Daily close
Price Return
1 Year
+9%
3 Years
+62%
5 Years
+102%
52-Week Range
$50.22 – $60.95
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MPLX worth?
Undervaluedhigh confidenceOur blended fair-value estimate for MPLX LP is $96.05 per share, versus a market price of $58.65. That implies 64% of upside — a margin of safety of about 39%.
Fair Value
$96.05
Current Price
$58.65
Upside
+64%
Margin of Safety
39%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 2.8% annual free-cash-flow growth. We model 7.6% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.0% discount rate (CAPM), 7.6% growth for five years fading to 2.5% over the next five, $4.65 EPS, $4.31 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MPLX Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full MPLX dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 7, 2026 | Aug 14, 2026 | $1.0770 | regular |
| May 8, 2026 | May 15, 2026 | $1.0770 | regular |
| Feb 9, 2026 | Feb 17, 2026 | $1.0770 | regular |
| Nov 7, 2025 | Nov 14, 2025 | $1.0770 | regular |
| Aug 8, 2025 | Aug 15, 2025 | $0.9570 | regular |
| May 9, 2025 | May 16, 2025 | $0.9570 | regular |
| Feb 3, 2025 | Feb 14, 2025 | $0.9570 | regular |
| Nov 8, 2024 | Nov 15, 2024 | $0.9570 | regular |
| Aug 9, 2024 | Aug 16, 2024 | $0.8500 | regular |
| May 2, 2024 | May 13, 2024 | $0.8500 | regular |
| Feb 2, 2024 | Feb 14, 2024 | $0.8500 | regular |
| Nov 2, 2023 | Nov 13, 2023 | $0.8500 | regular |
| Aug 3, 2023 | Aug 14, 2023 | $0.7750 | regular |
| May 4, 2023 | May 15, 2023 | $0.7750 | regular |
Income Calculator
At $4.31 / yr per share
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