Murphy USA Adopts 2.6% Hike In Dividend
Portfolio Pulse from Shivani Kumaresan
Murphy USA Inc (NYSE:MUSA) has announced a 2.6% increase in its quarterly dividend to $0.39 per share, amounting to $1.56 per share on an annualized basis. The dividend will be payable on September 7, 2023, to stockholders of record as of August 28, 2023. The company held $113.3 million in cash and equivalents as of June 30, 2023. MUSA shares closed lower by 1.01% at $314.33 on Thursday.
August 18, 2023 | 9:56 am
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NEUTRAL IMPACT
Murphy USA's decision to increase its quarterly dividend by 2.6% could be seen as a positive sign by investors, indicating the company's financial stability. However, the company's stock closed lower by 1.01% on the day of the announcement.
Dividend increases are generally seen as a positive sign by investors, indicating a company's confidence in its future earnings. However, the impact on the stock price can be influenced by a variety of factors, including overall market conditions. In this case, despite the dividend increase, MUSA's stock price closed lower on the day of the announcement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100