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When was Martin Midstream Partners L.P. founded?
- Martin Midstream Partners L.P. became a publicly traded master limited partnership on November 4, 2002. Our history actually dates back much further as a private company started by R.S. Martin in 1951.
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What is the ticker symbol for Martin Midstream Partners L.P.?
- MMLP.
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On what exchange is Martin Midstream Partners L.P. listed?
- The stock is listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) exchange.
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Who is Martin Midstream Partners L.P.'s transfer agent, and how can I contact them?
- Our transfer agent is BNY Mellon.
Write:
Martin Midstream Partners, L.P.
C/o BNY Mellon Shareowner Services
P.O. Box 358035
Pittsburgh, PA 15252-8035
www.bnymellon.com/shareowner/isd
Call:
800-301-0911
TDD (800) 231-5469 (Hearing Assisted)
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How is Martin Midstream Partners L.P. structured?
- Martin Midstream Partners L.P. is structured as a Master Limited Partnership, or MLP. An MLP is a publicly traded tax efficient entity that typically has a general partner(s) that manage the entity in addition to many limited partners (LPs). The LPs, aide the MLP by providing investment capital to the partnership but typically are silent with respect to its management.
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What exactly do investors purchase?
- Martin Midstream Partners L.P. investors purchase "units" not shares. An MLP unit is a limited partnership interest traded on public stock exchanges. When an investor buys a unit in an MLP, they effectively "join" the Company as an LP.
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How does a MLP differ from a corporation?
- A corporation is a legal entity, separate from its shareholders and employees. The entity has liability for all obligations of the corporation. The shareholders contribute capital but have no liability to creditors, taxing authorities, or other parties that may have a claim against the corporation. A corporation is also treated as a separate entity for tax purposes and must pay taxes on its income. If there is any income left after corporate taxes, capital investment and other uses, it may be passed on to the shareholders in the form of dividends. Shareholders then pay taxes on the dividends they receive. Since the dividends passed on to shareholders have been taxed once at the corporate level and once at the shareholder level, it is said that corporate income is "double taxed."
An MLP is not considered a separate entity, but rather an aggregation of all of its partners. For tax purposes, a partnership is treated as a "pass through" entity, meaning that there is no income taxation at the partnership level. The partnership's income is treated as having been earned by all of the partners and is therefore allocated among all the partners in proportion to their ownership interests in the partnership. All other items that figure into the income calculation, such as gains and losses, depreciation, etc., are also allocated to the partners. Each partner is then responsible for paying tax on his or her share of the income. Thus, partnership income is said to be "single taxed."
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When does Martin Midstream Partners L.P. pay cash distributions?
- After being approved by the Board of Directors, Martin Midstream Partners L.P. typically pays its cash distribution to unitholders on or about February 15th, May 14th, August 14th and November 15th annually.
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Does Martin Midstream Partners L.P. offer a Direct Unit Purchase Plan (DUPP) or a Distribution Re-Investment Plan (DRIP)?
- Not at this time, although this may become an offering in the future.
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How can I communicate with the Company?
- Martin Midstream Partners L.P. encourages unit holders to contact the partnership directly with any questions or concerns. The simplest way is either by phone (877) 256-6644 or via e-mail: ir@martinmlp.com. The partnership is prohibited from providing tax advice to unit holders.
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What will I receive for tax reporting purposes?
- Unlike corporations that pay dividends and supply tax payers a Form 1099, your investment in Martin Midstream Partners L.P. represents a percentage of our limited partnership and thus, unit holders will receive a Schedule K-1 from Martin. Our annual mailing of K-1's typically occurs the first week of March.
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Terminalling and storage services for petroleum products and by-products
Gathering and processing of natural gas and natural gas liquids and distribution of NGLs.
Marine transportation services for petroleum products and by-products.
Sulfur and sulfur-based products processing, manufacturing, marketing and distribution.