Marathon Petroleum Corporation Increases Dividend
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 26, 2011 - The board of directors of Marathon Petroleum
Corporation (NYSE: MPC) today declared a third quarter dividend of 25 cents per
share on Marathon Petroleum Corporation common stock, a 25 percent increase in
its quarterly dividend. The dividend is payable Dec. 12, 2011 to stockholders of
record as of the close of business Nov. 16, 2011.
"We are very pleased to move forward with this substantial increase in the
quarterly dividend so soon after MPC's spinoff as a new stand-alone
corporation," said Gary R. Heminger, president and chief executive officer. "The
management team and the board share a strong confidence in our business model's
ability to generate sustainable cash flow throughout the economic cycle, as well
as a commitment to regularly sharing the success of the business with its
investors."
On Nov. 1, MPC will provide an update on its third 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 "2011 Third
Quarter Financial Results" link.
# # #
About Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner with a crude capacity in excess of
1.1 million barrels per day in its six-refinery system. Marathon brand gasoline
is sold through approximately 5,100 independently owned locations across 18
states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the
nation's fourth largest convenience store chain, with approximately 1,375
locations in seven states. MPC also owns, operates, leases or has ownership
interest in approximately 9,600 miles of pipeline. 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 athttp://www.marathonpetroleum.com.
Investor Relations Contacts:
Pamela Beall (419) 429-5640
Beth Hunter (419) 421-2559
Media Contacts:
Angelia Graves (419) 421-2703
Jamal Kheiry (419) 421-3312
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements relate to, among other things, MPC's current expectations, estimates
and projections concerning MPC business and operations. You can identify
forward-looking statements by words such as "anticipate," "believe," "estimate,"
"expect," "forecast," "project," "could," "may," "should," or "would" or other
similar expressions that convey the uncertainty of future events or outcomes.
Such forward-looking statements are not guarantees of future performance and are
subject to risks, uncertainties and other factors, some of which are beyond the
company's control and are difficult to predict. Consequently, actual outcomes
may differ materially from those expressed in this release. The reader should
not place undue reliance on these forward-looking statements, which speak only
as of the date of this release. Factors that could cause actual results to
differ materially from those in the forward-looking statements include the
factors set forth under the heading "Risk Factors" in MPC's Registration
Statement on Form 10 filed with the Securities and Exchange Commission (the
"SEC"). In addition, the forward-looking statements included herein could be
affected by general domestic and international economic and political
conditions. Unpredictable or unknown factors not discussed here or in MPC's Form
10 could also have material adverse effects on forward-looking statements.
Copies of MPC's Form 10 are available on the SEC website, at
http://www.marathonpetroleum.com or by contacting MPC's Investor Relations
Office.
MPC Increases Dividend:
http://hugin.info/147922/R/1558237/481271.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Marathon Petroleum Company via Thomson Reuters ONE
[HUG#1558237]
Unternehmensinformation / Kurzprofil:
Datum: 26.10.2011 - 17:46 Uhr
Sprache: Deutsch
News-ID 80619
Anzahl Zeichen: 5080
contact information:
Town:
Findlay, Ohio
Kategorie:
Business News
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