Murphy Oil Corporation Increases Quarterly Dividend 10 Percent

Rhea-AI Summary

The Board of Directors of Murphy Oil Corporation (NYSE: MUR) declared a quarterly cash dividend of $0.275 per share, which translates to $1.10 annually. This marks a significant 120% increase since Q4 2021 and a 10% increase since the previous quarter. The dividend is scheduled for payment on March 1, 2023, to shareholders recorded by February 13, 2023. This announcement reflects Murphy Oil’s commitment to returning value to shareholders and highlights its strong financial discipline in a fluctuating market.

Positive

• Dividend increased by 120% since Q4 2021.
• 10% dividend increase from the previous quarter.
• Commitment to returning value to shareholders.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- The Board of Directors of Murphy Oil Corporation (NYSE: MUR) today declared a quarterly cash dividend on the Common Stock of Murphy Oil Corporation of $0.275 per share, or $1.10 per share on an annualized basis. This represents a 120 percent increase since fourth quarter 2021 and a 10 percent increase from the previous quarter. The dividend is payable on March 1, 2023, to stockholders of record as of February 13, 2023.

ABOUT MURPHY OIL CORPORATION

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company’s future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company, therefore we encourage investors, the media, business partners and others interested in our company to review the information we post on our website. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005669/en/

Investor Contacts:

Kelly Whitley, kelly_whitley@murphyoilcorp.com, 281-675-9107

Megan Larson, megan_larson@murphyoilcorp.com, 281-675-9470

Nathan Shanor, nathan_shanor@murphyoilcorp.com, 713-941-9576

Source: Murphy Oil Corporation

FAQ

What is the dividend amount declared by Murphy Oil Corporation (MUR)?

Murphy Oil Corporation declared a dividend of $0.275 per share.

When will the next dividend be paid by Murphy Oil Corporation (MUR)?

The next dividend will be paid on March 1, 2023.

What was the increase in the dividend from Murphy Oil Corporation (MUR)?

The dividend has increased by 120% since Q4 2021 and by 10% from the previous quarter.

What is the record date for the dividend payment by Murphy Oil Corporation (MUR)?

The record date for the dividend payment is February 13, 2023.