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Murphy USA Inc. announced a dividend increase of 4.8%, with a quarterly cash dividend of $0.44 per share, or $1.76 per share annually. The dividend will be paid on June 3, 2024, to stockholders of record as of May 20, 2024.
Murphy USA Inc. reported its preliminary first-quarter 2024 results, showcasing a net income of $66.0 million, or $3.12 per diluted share, compared to $106.3 million, or $4.80 per diluted share, in Q1 2023. Retail gallons increased by 1.0%, while same-store sales volumes declined by 0.9%. Merchandise contribution dollars rose by 2.4% to $191.6 million. The Company repurchased 216.0 thousand common shares for $86.9 million and paid a quarterly dividend of $0.42 per share. Despite lower net income and Adjusted EBITDA, Murphy USA remains optimistic about its long-term value creation strategy.