Marathon Petroleum Corp. Increases Quarterly Dividend By 10% To $0.825/Share And Announces $5 Billion Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
Marathon Petroleum Corp. has announced a 10% increase in its quarterly dividend to $0.825 per share. The company has also authorized a $5 billion share repurchase program.
October 25, 2023 | 9:05 pm
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POSITIVE IMPACT
Marathon Petroleum's decision to increase its dividend and authorize a share repurchase program could boost investor confidence and potentially increase the stock price in the short term.
Dividend increases and share buybacks are generally seen as positive signals by the market, as they indicate that a company is confident in its financial health and future prospects. This could lead to increased demand for the stock, potentially driving up the price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100