Marathon Petroleum Corp.s board of directors has declared a dividend of 46 cents per share on common stock. The dividend is payable March 12, 2018, to shareholders of record as of the close of business Feb. 21, 2018.

The (46-cent) dividend approved by our board represents a 15-percent increase to our regular dividend under an accelerated timeline, said Gary R. Heminger, Marathon chairman and chief executive officer. As we near the closing of the final phase of the strategic actions undertaken in 2017, we remain highly confident in the long-term cash generation of the business, further supported by the reduced cash burden resulting from tax reform.