Marathon Petroleum Corp. Increases Quarterly Dividend

Rhea-AI Summary

Marathon Petroleum Corp. (NYSE: MPC) announced a 10% increase in its quarterly dividend, raising it from $0.825 to $0.91 per share on common stock. The dividend will be paid on December 10, 2024, to shareholders of record as of November 20, 2024.

Positive

• 10% dividend increase demonstrates strong financial position and commitment to shareholder returns
• New quarterly dividend of $0.91 per share represents higher income for shareholders

Negative

• None.

FINDLAY, Ohio, Oct. 30, 2024 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.91 per share on common stock, an increase of 10% over its previous dividend of $0.825 per share. The dividend is payable Dec. 10, 2024, to shareholders of record as of the close of business Nov. 20, 2024.

About 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 Finance and Investor Relations
Brian Worthington, Director, Investor Relations
Alyx Teschel, Manager, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

View original content:https://www.prnewswire.com/news-releases/marathon-petroleum-corp-increases-quarterly-dividend-302292078.html

SOURCE Marathon Petroleum Corporation

FAQ

What is Marathon Petroleum's new quarterly dividend amount for 2024?

Marathon Petroleum's new quarterly dividend is $0.91 per share, representing a 10% increase from the previous $0.825 per share.

When is MPC's next dividend payment date?

MPC's dividend will be paid on December 10, 2024, to shareholders of record as of November 20, 2024.

By what percentage did Marathon Petroleum increase its dividend?

Marathon Petroleum increased its quarterly dividend by 10%, from $0.825 to $0.91 per share.

What is the record date for MPC's increased dividend?

The record date for Marathon Petroleum's increased dividend is November 20, 2024.