Key Developments: Marathon Petroleum Corp (MPC)

MPC on New York Consolidated

103.46USD
29 May 2015
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Latest Key Developments (Source: Significant Developments)

Marathon Petroleum Corp announces dividend
Wednesday, 29 Apr 2015 08:15am EDT 

Marathon Petroleum Corp:Declared a dividend of $0.50 per share on common stock on a pre-split basis.The dividend is payable on June 10, to shareholders of record as of the close of business May 20.  Full Article

Marathon Petroleum declares dividend
Monday, 2 Feb 2015 06:57am EST 

Marathon Petroleum Corp:Declares a dividend of $0.50 per share on common stock.Payable on March 10, to shareholders of record as of the close of business Feb. 18.  Full Article

Marathon Petroleum Corp announces dividend
Wednesday, 29 Oct 2014 12:22pm EDT 

Marathon Petroleum Corp:Declares dividend of $0.50 per share on common stock.Payable on Dec. 10, of record as of the close of business Nov. 19.  Full Article

Marathon Petroleum Corp Prices $1.95 Billion Senior Notes Offering
Tuesday, 2 Sep 2014 06:26pm EDT 

Marathon Petroleum Corp:Prices $1.95 bln in aggregate principal amount of unsecured senior notes in underwritten public offering consisting of three series of senior notes.$750 mln aggregate principal amount of 3.625 percent senior notes due 2024.$800 mln aggregate principal amount of 4.75 percent senior notes due 2044.$400 mln aggregate principal amount of 5.00 percent senior notes due 2054.2024 senior notes, 2044 senior notes and 2054 senior notes were offered at price to the public of 99.641 percent, 98.862 percent and 98.77 percent of par, respectively.Together with borrowings under the recently announced $700 mln term loan, MPC intends to use the net proceeds from this offering to fund the pending acquisition of Hess Retail Holdings LLC by its subsidiary, Speedway LLC.Closing of senior notes offering is expected to occur on Sept. 05, subject to satisfaction of customary closing conditions.  Full Article

Marathon Petroleum Corp announces proposed offering of senior notes
Tuesday, 2 Sep 2014 09:00am EDT 

Marathon Petroleum Corp:Says it has commenced public offering of senior notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).Offering and actual terms of senior notes, including principal amount, interest rate and maturity, will depend on market and other conditions.Together with borrowings under recently announced $700 mln term loan, MPC intends to use the net proceeds from this offering to fund pending acquisition of Hess Retail Holdings LLC by its subsidiary, Speedway LLC.Senior notes are expected to be subject to special mandatory redemption, which would apply in event acquisition is not consummated on or prior to Sept. 30, 2015, or.If purchase agreement is terminated prior to such date other than in connection with closing of acquisition and is not otherwise amended or replaced.Mitsubishi UFJ Securities (USA) Inc., RBS Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce and.Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers.  Full Article

Marathon Petroleum Corp announces additional $2 billion share repurchase authorization
Wednesday, 30 Jul 2014 05:19pm EDT 

Marathon Petroleum Corp:Approves additional $2 bln share repurchase authorization through July 2016.This authorization is in addition to previous authorization, which had $709 mln remaining as of June 30, 2014.MPC may utilize various methods to effect 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, 30 Jul 2014 12:55pm EDT 

Marathon Petroleum Corp:Declares a dividend of $0.50 per share on common stock.Says a 19 percent increase in its quarterly dividend.Payable on Sept. 10, to shareholders of record as of the close of business Aug. 20.  Full Article

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 disappointed Galveston Bay workers reject contract offer

HOUSTON - Marathon Petroleum Corp said on Tuesday it was disappointed by the rejection of a contract offer by striking workers at the company's Galveston Bay Refinery in Texas City, Texas.

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