Marathon Petroleum announces dividend increase

Marathon Petroleum Corp.’s board of directors have declared a dividend of $0.50 per share on common stock, a 19 percent increase in its quarterly dividend. The dividend is payable on Sept. 10 to shareholders of record as of the close of business Aug. 20.

“This is the fourth increase in MPC’s dividend and represents a 32 percent compound annual growth rate from the dividend established at the time MPC became a stand-alone public company in July 2011,” Marathon Petroleum Chief Executive Officer Gary Heminger said.

Marathon will announce its 2014 second-quarter earnings on Thursday.

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