| Marathon Oil Cuts Quarterly Dividend by 76% to Preserve Cash | |
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Marathon Oil Corp. reduced its quarterly dividend by 76 percent in an effort to increase cash flow with oil prices holding below $50 a barrel. Marathon’s Dec. 10 payout to investors will drop to 5 cents a share from 21 cents, the company said in a statement Thursday. The dividend cut is expected to increase annual cash flow by more than $425 million. “We believe the revised dividend appropriately addresses the uncertainty of a lower for longer commodity price environment,” Lee M. Tillman, the company’s president and chief executive officer, said in the statement. More from Bloomberg.com: Inside the Secretive Circle That Rules a $14 Trillion Market (Updates with CEO comment in third paragraph.) More from Bloomberg.com Read Marathon Oil Cuts Quarterly Dividend by 76% to Preserve Cash on bloomberg.com
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Marathon Oil Corporation
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CODE : MRO |
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ISIN : US5658491064 |
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Marathon Oil is a oil exploration company based in United states of america. Marathon Oil is listed in United States of America. Its market capitalisation is US$ 20.1 billions as of today (€ 17.6 billions). Its stock quote reached its lowest recent point on August 13, 1982 at US$ 0.70, and its highest recent level on March 30, 2023 at US$ 23.71. Marathon Oil has 849 755 866 shares outstanding. |