Marathon Petroleum Corp. announced that its annual meeting of shareholders will take place April 29 at 10 a.m. EDT at the company’s headquarters in Findlay, Ohio. Shareholders of record as of March 2 are entitled to notice of and to vote at the annual meeting.
Marathon’s board of directors has declared a dividend of $0.58 per share on common stock. The dividend is payable March 10, 2020, to shareholders of record as of the close of business Feb. 19, 2020.
“The $0.58 dividend approved by our board represents a 9.4% increase to our previous quarterly dividend,” said Gary R. Heminger, chairman and chief executive officer. “This dividend increase underscores our continuing commitment to returning capital to shareholders and our confidence in the cash flow generation capabilities of MPC.”
Since the company became independent in 2011, capital returned to shareholders through both dividends and repurchase activity totals over $21 billion through year-end 2019.
Marathon is a leading, integrated, downstream energy company headquartered in Findlay, Ohio, operating the nation’s largest refining system with more than 3 million barrels per day of crude oil capacity across 16 refineries.