Marathon Petroleum announces $2 billion share repurchase authorization and fourth quarter dividend

Wednesday, February 1, 2012
  • Marathon Petroleum Corporation announce that the board of directors has authorized a share repurchase plan of up to $2 billion of the company's shares of common stock over a two-year period.

The company has all the approvals required to proceed under this authorization. MPC may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing of repurchases will depend upon several factors, including market and business conditions, and the repurchases may be discontinued at any time.

The board also declared a fourth quarter dividend of 25 cents per share on Marathon Petroleum Corporation common stock. The dividend is payable March 12, 2012 to stockholders of record as of the close of business February 16, 2012.

"The confidence that we have in the cash generation of the business and our strengthening financial position provides this opportunity to enhance value to our shareholders through a repurchase program and continuing our strong quarterly dividend. These actions are consistent with our strategy of a balanced, investor-oriented approach, while maintaining financial strength and the flexibility to continue to invest in internal and external opportunities to grow our long-term profitability," said Gary R. Heminger, MPC's president and chief executive officer.


Article Tags

Marathon Oil Corporation United States North America Finance


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News

Popular Headlines View all
Latest Opinion View all
Join 80,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact Us

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us


Stay Connected


2014 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us