Marathon Petroleum Corporation Increases Dividend
"We are very pleased to move forward with this substantial increase in the quarterly dividend so soon after MPC's spinoff as a new stand-alone corporation," said Gary R. Heminger, president and chief executive officer. "The management team and the board share a strong confidence in our business model's ability to generate sustainable cash flow throughout the economic cycle, as well as a commitment to regularly sharing the success of the business with its investors."
On Nov. 1, MPC will provide an update on its third quarter results through an earnings news release, to be followed by a conference call scheduled for 10 a.m. EDT that day. Interested investors can listen to the conference call on MPC's website at http://www.marathonpetroleum.com by clicking on the "2011 Third Quarter Financial Results" link.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, MPC's current expectations, estimates and projections concerning MPC business and operations. You can identify forward-looking statements by words such as "anticipate," "believe," "estimate," "expect," "forecast," "project," "could," "may," "should," or "would" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Consequently, actual outcomes may differ materially from those expressed in this release. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Factors that could cause actual results to differ materially from those in the forward-looking statements include the factors set forth under the heading "Risk Factors" in MPC's Registration Statement on Form 10 filed with the Securities and Exchange Commission (the "SEC"). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPC's Form 10 could also have material adverse effects on forward-looking statements. Copies of MPC's Form 10 are available on the SEC website, at http://www.marathonpetroleum.com or by contacting MPC's Investor Relations Office.
Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner with a crude capacity in excess of 1.1 million barrels per day in its six-refinery system. Marathon brand gasoline is sold through approximately 5,100 independently owned locations across 18 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation's fourth largest convenience store chain, with approximately 1,375 locations in seven states. MPC also owns, operates, leases or has ownership interest in approximately 9,600 miles of pipeline. MPC's fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company's distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com.