finance
Marathon Petroleum Shares Rise Following Dividend Announcement and Energy Sector Gains
Marathon Petroleum Corp. shares increased in overnight trading after the company declared a quarterly dividend. The rise followed a broader surge in the energy sector amid reports of discussions on sustaining an Iran blockade. Shares of other companies like Chevron and Exxon Mobil also gained.
Apr 30, 3:48 AM·1m read1 source
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Marathon Petroleum Corp. (NYSE: MPC) shares rose 0.36% to $242.67 in overnight trading on Wednesday, according to Benzinga Pro data. The stock closed the regular session on Wednesday at $241.81, marking a 3.96% increase. The Ohio-based integrated downstream and midstream energy company declared a quarterly dividend of $1 per share on Wednesday.
The dividend is payable on June 10 to shareholders of record as of May 20.
The energy sector experienced gains on Wednesday.
Chevron (NYSE: CVX) shares rose 2.05%, while Exxon Mobil (NYSE: XOM) shares increased 2.72%.
The group met with oil and gas executives to discuss sustaining Iran’s blockade for months if needed, Benzinga reported.
