Marathon Petroleum Corporation MPC today announced the board of directors declared a dividend of 42
cents per share on common stock, a 20 percent increase in its quarterly
dividend. The dividend is payable Sept. 10, 2013, to shareholders of
record as of the close of business Aug. 21, 2013.
"This is MPC's third dividend increase in the past 24 months and
represents a 110 percent increase over the dividend at the time we
became an independent public company," said President and Chief
Executive Officer Gary R. Heminger. "This increase reflects our
confidence in the company and our commitment to strike a balance between
making investments in the business to grow our core earnings and
returning capital to shareholders."
On Aug. 1, MPC will provide an update on its 2013 second-quarter results
through an earnings news release, to be followed by a conference call
scheduled for 10 a.m. EDT that day. Interested investors can listen to
the conference call on MPC's website at http://www.marathonpetroleum.com
by clicking on the "2013 Second-Quarter Financial Results" link.
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About Marathon Petroleum Corporation
MPC is the nation's fourth-largest refiner, with a crude oil refining
capacity of approximately 1.7 million barrels per calendar day in its
seven-refinery system. Marathon brand gasoline is sold through
approximately 5,000 independently owned retail outlets across 17 states.
In addition, Speedway LLC, an MPC subsidiary, owns and operates the
nation's fourth-largest convenience store chain, with approximately
1,470 convenience stores in nine states. MPC also owns, leases or has
ownership interests in approximately 8,300 miles of pipeline. Through
subsidiaries, MPC owns the general partner of MPLX LP, a midstream
master limited partnership. MPC's fully integrated system provides
operational flexibility to move crude oil, feedstocks and
petroleum-related products efficiently through the company's
distribution network in the Midwest, Southeast and Gulf Coast regions.
For additional information about the company, please visit our website
at http://www.marathonpetroleum.com.
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