The board of directors of Magellan Midstream Partners, L.P. has increased the partnership's quarterly cash distribution to 58.5 cents per unit for the period October 1 through December 31, 2013. The fourth-quarter 2013 distribution represents a 5% increase over the third-quarter 2013 distribution of 55.75 cents.

For the year, Magellan declared distributions of $2.1825 per unit for 2013, or 16% higher than distributions of $1.87625 per unit for 2012. The new distribution will be paid February 14, 2014 to unit holders of record at the close of business on February 7, 2014.