Marathon Petroleum (MPC) Raises Quarterly Dividend 12.5% to $0.36; 3.8% Yield

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Go back to Marathon Petroleum (MPC) Raises Quarterly Dividend 12.5% to $0.36; 3.8% Yield

Marathon Petroleum Corp. increases dividend 12.5 percent

July 27, 2016 12:46 PM EDT

FINDLAY, Ohio, July 27, 2016 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.36 per share on common stock, a 12.5 percent increase from the $0.32 per share dividend paid in the second quarter of 2016. The dividend is payable Sept. 12, 2016, to shareholders of record as of the close of business Aug. 17, 2016.

"This increase in our dividend represents a compound annual growth rate of more than 29 percent from the dividend level established at the time MPC became a standalone public company," said Gary R.... More