Marathon Oil Corporation Declares Fourth Quarter 2021 Dividend

Rhea-AI Summary

Marathon Oil Corporation (NYSE: MRO) has announced a dividend of 7 cents per share, payable on March 10, 2022, to shareholders of record as of February 16, 2022. This marks the fourth consecutive increase in their quarterly base dividend, bringing the total increase over the past year to more than 130%. The company emphasizes its commitment to providing a sustainable and competitive dividend, aligning with shareholder returns from cash flow.

Positive

• Fourth consecutive increase in quarterly dividend.
• Dividend increased by more than 130% over the last year.
• Demonstrates commitment to returning cash flow to shareholders.

Negative

• None.

HOUSTON, Jan. 26, 2022 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced today that the Company's board of directors has declared a dividend of 7 cents per share on Marathon Oil Corporation common stock. The dividend is payable on March 10, 2022, to stockholders of record on February 16, 2022.

"This is the fourth consecutive increase to our quarterly base dividend," said Chairman, President, and CEO Lee Tillman. "Over the last year, we have now increased our base dividend by more than 130%, consistent with our commitment to pay a competitive and sustainable base dividend and to return a significant amount of cash flow to our shareholders."

For more information on Marathon Oil Corporation, visit the Company's website at https://www.marathonoil.com.

Forward-Looking Statements
This release contains forward-looking statements. All statements, other than statements of historical fact, including, without limitation, statements regarding the Company's future dividend payments, returns to shareholders and other future performance, are forward-looking statements. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "outlook," "plan," "positioned," "project," "seek," "should," "target," "will," "would," or similar words may be used to identify forward-looking statements; however, the absence of these words does not mean that the statements are not forward-looking. While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause actual results to differ materially from those projected, including, but not limited to: conditions in the oil and gas industry, including supply/demand levels for crude oil and condensate, NGLs and natural gas and the resulting impact on price; changes in expected reserve or production levels; changes in political or economic conditions in the U.S. and Equatorial Guinea, including changes in foreign currency exchange rates, interest rates, and inflation rates; actions taken by the members of the Organization of the Petroleum Exporting Countries and Russia affecting the production and pricing of crude oil; other global and domestic political, economic or diplomatic developments; capital available for exploration and development; risks related to the Company's hedging activities; voluntary or involuntary curtailments, delays or cancellations of certain drilling activities; well production timing; liability or corrective actions resulting from litigation or other proceedings and investigations; drilling and operating risks; lack of, or disruption in, access to storage capacity, pipelines or other transportation methods; availability of drilling rigs, materials and labor, including the costs associated therewith; difficulty in obtaining necessary approvals and permits; non-performance by third parties of contractual obligations; hazards such as weather conditions, a health pandemic (including COVID-19), acts of war or terrorist acts and the government or military response thereto; security threats, including cybersecurity threats and disruptions to our business and operations from breaches of our information technology systems, or breaches of the information technology systems, facilities and infrastructure of third parties with which we transact business; changes in safety, health, environmental, tax and other regulations, requirements or initiatives, including initiatives addressing the impact of global climate change, air emissions, or water management; other geological, operating and economic considerations; and the risk factors, forward-looking statements and challenges and uncertainties described in the Company's 2020 Annual Report on Form 10-K and other public filings and press releases, available at https://ir.marathonoil.com/. Except as required by law, the Company undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise.

Media Relations Contact:
Stephanie Gentry: 832-206-3746

Investor Relations Contacts:
Guy Baber: 713-296-1892
John Reid: 713-296-4380

View original content to download multimedia:https://www.prnewswire.com/news-releases/marathon-oil-corporation-declares-fourth-quarter-2021-dividend-301469010.html

SOURCE Marathon Oil Corporation

FAQ

What is the dividend amount declared by Marathon Oil (MRO) for the fourth quarter of 2021?

Marathon Oil has declared a dividend of 7 cents per share.

When will the dividend for Marathon Oil (MRO) be paid?

The dividend will be payable on March 10, 2022.

Who are the shareholders eligible for the dividend from Marathon Oil (MRO)?

Shareholders of record as of February 16, 2022, are eligible for the dividend.

How much has Marathon Oil (MRO) increased its dividend over the past year?

Marathon Oil has increased its dividend by more than 130% over the past year.

What is the significance of the dividend increase for Marathon Oil (MRO) investors?

The increase reflects the company's commitment to providing a competitive and sustainable return to shareholders.