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Magellan Midstream increases Q2 distribution

Magellan MidstreamPartners LP's quarterly cash distribution has increased to 82 centsper unit, or $3.28 per unit on an annualized basis.

The second-quarter 2016 distribution, declared by the partnership'sboard of directors, represents a 2% increase from the previous quarter and an 11%increase from the year-ago period, according to a July 21 news release.

The distribution will be paid Aug. 12 to unitholders of recordat the close of business on Aug. 1.