HOUSTON, April 29, 2021 /PRNewswire/ -- Marathon Oil
Corporation (NYSE: MRO) announced today that the Company fully
redeemed its $500 million aggregate
principal amount of 2.8% Senior Notes Due 2022. This transaction
will reduce annual cash interest expense by $14 million.
Marathon Oil also announced today that the Company's board of
directors has declared a dividend of 4
cents per share on Marathon Oil Corporation common stock.
The dividend is payable on June 10,
2021, to stockholders of record on May 19, 2021.
"We have swiftly followed through on our commitment to reduce
our gross debt by at least $500MM in 2021, fully addressing our
next significant debt maturity, and have also raised our quarterly
base dividend by over 30%," said Chairman, President and CEO
Lee Tillman. "These actions are
fully consistent with our objective to both further enhance our
investment-grade balance sheet and return an increasing amount of
capital to shareholders."
Media Relations Contact:
Rebecca Skiba: 713-296-2584
Investor Relations Contacts:
Guy Baber: 713-296-1892
John Reid: 713-296-4380
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SOURCE Marathon Oil Corporation