Marathon Petroleum Corp. Increases Quarterly Dividend

Rhea-AI Summary

Marathon Petroleum Corp. (NYSE: MPC) announced a 30% increase in its quarterly dividend, raising it from $0.58 to $0.75 per share. The new dividend is scheduled for payment on December 12, 2022, to shareholders recorded by the close of business on November 16, 2022. This boost reflects the company's commitment to returning value to shareholders amid strong performance metrics.

Positive

• Dividend increased by 30% from $0.58 to $0.75 per share.
• Demonstrates commitment to returning value to shareholders.

Negative

• None.

FINDLAY, Ohio, Nov. 1, 2022 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.75 per share on common stock, an increase of approximately 30% over its previous dividend of $0.58 per share. The dividend is payable Dec. 12, 2022, to shareholders of record as of the close of business Nov. 16, 2022.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President
Brian Worthington, Manager
Kenan Kinsey, Analyst

Media Contact: (419) 421-3312
Jamal Kheiry, Communications Manager

View original content:https://www.prnewswire.com/news-releases/marathon-petroleum-corp-increases-quarterly-dividend-301664120.html

SOURCE Marathon Petroleum Corporation

FAQ

What is the new dividend amount for MPC?

The new dividend amount for Marathon Petroleum Corp. (MPC) is $0.75 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on December 12, 2022.

What was the previous dividend amount for MPC?

The previous dividend amount was $0.58 per share.

What is the record date for the dividend payment?

The record date for the dividend payment is November 16, 2022.

How does the dividend increase impact MPC shareholders?

The dividend increase provides enhanced returns to MPC shareholders.