Marathon Petroleum Corp (NYSE:MPC) declared a quarterly dividend on Wednesday, October 31st, RTT News reports. Stockholders of record on Wednesday, November 21st will be paid a dividend of 0.46 per share by the oil and gas company on Monday, December 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.56%.
Marathon Petroleum has raised its dividend payment by an average of 18.2% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Marathon Petroleum has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum to earn $7.09 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 26.0%.
Shares of MPC stock traded up $2.97 on Wednesday, hitting $71.77. 607,784 shares of the company’s stock traded hands, compared to its average volume of 7,959,739. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60. Marathon Petroleum has a one year low of $58.83 and a one year high of $88.45. The firm has a market cap of $31.06 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.95 and a beta of 1.50.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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