Yahoo Finance Marathon Petroleum Corporation Increases Dividend 28 Percent
FINDLAY, Ohio, July 29, 2015 - Marathon Petroleum Corporation (MPC) announced today that its board of directors declared a dividend of $0.32 per share on common stock, a 28 percent increase from the $0.25 per-share dividend in the first quarter of 2015, after adjusting to reflect the two-for-one stock split that occurred during the second quarter. The dividend is payable Sept. 10, 2015, to shareholders of record as of the close of business Aug. 19, 2015.
"This is the fifth increase in MPC`s dividend and represents a 34 percent compounded annual growth rate from the dividend level established at the time MPC became a standalone public company," said President and Chief Executive Officer Gary R. Heminger. "This substantial increase demonstrates our ongoing commitment to our shareholders to share the success of the business with them as we also continue to invest in future growth."
On July 30, MPC will provide an update on its 2015 second-quarter results through an earnings news release, to be followed by a conference call scheduled for 10 a.m. EDT that day. Interested investors can listen to the conference call on MPC`s website at http://www.marathonpetroleum.com by clicking on the "2015 Second-Quarter Financial Results" link.
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About Marathon Petroleum Corporation
MPC is the nation`s fourth-largest refiner, with a crude oil refining capacity of approximately 1.7 million barrels per calendar day in its seven-refinery system. Marathon brand gasoline is sold through approximately 5,500 independently owned retail outlets across 19 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation`s second-largest convenience store chain, with approximately 2,760 convenience stores in 22 states. MPC also owns, leases or has ownership interests in approximately 8,300 miles of pipeline. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. MPC`s fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company`s distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com.
Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Corporation via GlobeNewswire
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