FINDLAY, Ohio, July 25, 2012 - Marathon Petroleum Corporation (NYSE: MPC) today
announced that the board of directors declared a dividend of 35 cents per share
on common stock, a 40 percent increase in its quarterly dividend. The dividend
is payable Sept. 10, 2012 to shareholders of record as of the close of business
Aug. 16, 2012.
"We remain committed to maximizing total returns to our shareholders and
continuing to strike a balance between making value-enhancing investments in the
business and returning capital to shareholders. We are pleased to announce this
adjustment in the quarterly dividend to reflect our ongoing focus on returning
capital to shareholders and continued confidence in our business outlook," said
Gary R. Heminger, MPC's president and chief executive officer.
On July 31, MPC will provide an update on its 2012 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 "2012
Second-Quarter Financial Results" link.
About Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner, with a crude capacity of
approximately 1.2 million barrels per calendar day in its six-refinery system.
Marathon brand gasoline is sold through more than 5,000 independently owned
retail outlets across 18 states. In addition, Speedway LLC, an MPC subsidiary,
owns and operates the nation's fourth largest convenience store chain, with
approximately 1,460 convenience stores in seven states. MPC also owns, leases or
has ownership interests in approximately 8,300 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 at
Investor Relations Contacts:
Pamela Beall (419) 429-5640
Beth Hunter (419) 421-2559
Angelia Graves (419) 421-2703
Robert Calmus (419) 421-3127
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.Â Factors that could cause actual
results to differ materially from those in the forward-looking statements
include: volatility in and/or degradation of market and industry conditions; the
availability and pricing of crude oil and other feedstocks; consumer demand for
refined products; the reliability of processing units and other equipment; our
ability to successfully implement growth opportunities; other risk factors
inherent to our industry; and the factors set forth under the heading "Risk
Factors" in MPC's Annual Report on Form 10-K for the year ended December
31, 2011 filed with the Securities and Exchange Commission (SEC).Â 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-K could also have
material adverse effects on forward-looking statements. Copies of MPC's Form 10-
K are available on the SEC website, at http://ir.marathonpetroleum.com or by
contacting MPC's Investor Relations Office.
Marathon Petroleum Increases Dividend:
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Source: Marathon Petroleum Corporation via Thomson Reuters ONE