HOUSTON, July 28, 2021 /PRNewswire/ -- Marathon Oil
Corporation (NYSE: MRO) announced today that the Company's board of
directors has declared a dividend of 5
cents per share on Marathon Oil Corporation common stock.
This represents an increase from the Company's last quarterly base
dividend payment of 4 cents per
share. The dividend is payable on September
10, 2021, to stockholders of record on August 18, 2021.
"We are pleased to announce an increase to our quarterly base
dividend for the second time this year," said Chairman,
President and CEO Lee Tillman.
"We remain fully committed to a transparent capital allocation
model that prioritizes free cash flow generation, a strong balance
sheet, a low enterprise free cash flow breakeven, and returning
significant capital back to our investors. Paying a competitive and
sustainable base dividend is a key component of our capital
allocation framework, and this 25% dividend increase underscores
our commitment to returning an increasing amount of capital to our
shareholders."
For more information on Marathon Oil Corporation, visit the
Company's website at https://www.marathonoil.com.
Forward-Looking Statements
This release contains
forward-looking statements. All statements, other than statements
of historical fact, including, without limitation, statements
regarding the Company's future capital allocation, expected free
cash flow, return of capital to investors and other future
performance, are forward-looking statements. Words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"forecast," "future," "guidance," "intend," "may," "outlook,"
"plan," "positioned," "project," "seek," "should," "target,"
"will," "would," or similar words may be used to identify
forward-looking statements; however, the absence of these words
does not mean that the statements are not forward-looking. While
the Company believes its assumptions concerning future events are
reasonable, a number of factors could cause actual results to
differ materially from those projected, including, but not limited
to: conditions in the oil and gas industry, including supply/demand
levels for crude oil and condensate, NGLs and natural gas and the
resulting impact on price; changes in expected reserve or
production levels; changes in political or economic conditions in
the U.S. and Equatorial Guinea, including changes in foreign
currency exchange rates, interest rates, and inflation rates;
actions taken by the members of the Organization of the
Petroleum Exporting Countries
and Russia affecting the production and pricing of
crude oil; other global and domestic political, economic or
diplomatic developments; capital available for exploration and
development; risks related to the Company's hedging activities;
voluntary or involuntary curtailments, delays or cancellations of
certain drilling activities; well production timing; liability
resulting from litigation; drilling and operating risks; lack of,
or disruption in, access to storage capacity, pipelines or other
transportation methods; availability of drilling rigs, materials
and labor, including the costs associated therewith; difficulty in
obtaining necessary approvals and permits; non-performance by third
parties of contractual obligations; unforeseen hazards such as
weather conditions, a health pandemic (including COVID-19), acts of
war or terrorist acts and the government or military response
thereto; cyber-attacks; changes in safety, health, environmental,
tax and other regulations, requirements or initiatives, including
initiatives addressing the impact of global climate change, air
emissions, or water management; other geological, operating and
economic considerations; and the risk factors, forward-looking
statements and challenges and uncertainties described in the
Company's 2020 Annual Report on Form 10-K and other public filings
and press releases, available
at https://ir.marathonoil.com/. Except as required by
law, the Company undertakes no obligation to revise or
update any forward-looking statements as a result of new
information, future events or otherwise.
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