Key Developments: Marathon Petroleum Corp (MPC)

MPC on New York Consolidated

78.86USD
11 Jul 2014
Price Change (% chg)

$1.45 (+1.87%)
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Latest Key Developments (Source: Significant Developments)

Marathon Petroleum Corp's Speedway acquire Hess Retail Holdings LLC
Thursday, 22 May 2014 07:01am EDT 

Marathon Petroleum Corp:Speedway LLC, subsidiary signed definitive agreement with Hess Corporation to acquire Hess Retail Holdings LLC.This transaction incorporates all of Hess' retail locations, transport operations and shipper history on various pipelines, including about 40,000 barrels per day (bpd) on Colonial Pipeline.Says total consideration is $2.874 bln comprised of cash purchase price of $2.37 bln, an estimated $230 mln of working capital and $274 mln of capital leases.Acquisition is expected to be funded with combination of debt and available cash and is anticipated to close late in Q3 of 2014.  Full Article

Marathon Petroleum Corp declares dividend
Tuesday, 29 Apr 2014 08:00pm EDT 

Marathon Petroleum Corp:Declares dividend of $0.42 per share on common stock.Dividend is payable June 10 to shareholders of record as of the close of business May 21.  Full Article

Marathon Petroleum Corp declares dividend
Monday, 27 Jan 2014 07:28am EST 

Marathon Petroleum Corp:Declares a dividend of $0.42 per share on common stock.Says the dividend is payable Mar. 10 to shareholders of record as of the close of business Feb. 19.  Full Article

Marathon Petroleum Corp Shuts Down Unit-Reuters
Thursday, 7 Nov 2013 08:43am EST 

Reuters reported that Marathon Petroleum Corp has reported an unspecified unit shutdown led to hydrogen sulfide emissions at its 522,000 barrel-per-day (bpd) Garyville, Louisiana, refinery, according to a filing with the U.S. National Response Center. The Company spokesman declined to identify the unit.  Full Article

Marathon Petroleum Corp Announces Dividend
Wednesday, 30 Oct 2013 12:11pm EDT 

Marathon Petroleum Corporation announced that its Board of Directors declared a dividend of $0.42 per share on common stock. The dividend is payable December 10, 2013, to shareholders of record as of the close of business November 20, 2013.  Full Article

Marathon Petroleum Corp Announces Incremental $2 Billion Share Repurchase Authorization
Thursday, 26 Sep 2013 04:39pm EDT 

Marathon Petroleum Corp announced that its Board of Directors has approved an additional $2 billion share repurchase authorization through September 2015. This authorization is in addition to the previous authorization, which had $1.34 billion remaining as of June 30, 2013. MPC may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing of repurchases will depend upon several factors, including market and business conditions, and repurchases may be discontinued at any time.  Full Article

Marathon Petroleum Corp Increases Dividend
Wednesday, 31 Jul 2013 01:18pm EDT 

Marathon Petroleum Corp announced the board of directors declared a dividend of $0.42 per share on common stock, a 20% increase in its quarterly dividend. The dividend is payable Sept. 10, 2013, to shareholders of record as of the close of business Aug. 21, 2013.  Full Article

Marathon Petroleum Corp Issues Q2 2013 EPS Guidance-Conference Call
Monday, 15 Jul 2013 04:33pm EDT 

Marathon Petroleum Corp announced that for the second quarter of 2013, it expects earnings of $1.75 to $1.85 per diluted share.  Full Article

Marathon Petroleum Corp Announces Incremental $2 Billion Share Repurchase Authorization; Declares Fourth-Quarter 2012 Dividend
Wednesday, 30 Jan 2013 07:14am EST 

Marathon Petroleum Corp announced that its board of directors has approved an additional $2 billion share repurchase authorization. The board also extended the remaining $650 million share repurchase authorization announced on February 1, 2012, for a total outstanding authorization of $2.65 billion through December 2014. MPC may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing of repurchases will depend upon several factors, including market and business conditions, and repurchases may be discontinued at any time. The board also declared a fourth-quarter dividend of $0.35 per share on Marathon Petroleum Corporation common stock. The dividend is payable March 11, 2013, to stockholders of record as of the close of business on February 20, 2013.  Full Article

Marathon Petroleum Corp Announces Third-Quarter 2012 Dividend-Reuters
Wednesday, 31 Oct 2012 11:31am EDT 

Reuters reported that Marathon Petroleum Corp has declared a dividend of 35 cents per share on Marathon Petroleum Corporation common stock. The dividend is payable December 10, 2012, to stockholders of record as of the close of business on November 21, 2012.  Full Article

Exclusive: Marathon eyes closing small Galveston Bay gasoline unit - sources

HOUSTON - Marathon Petroleum Corp is considering the permanent shutdown of the smallest gasoline-producing unit at its Galveston Bay refinery in Texas in 2016, rather than make costly upgrades to bring the unit into line with environmental rules, sources familiar with the refinery's plans said on Friday.

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