OREANDA-NEWS. Marathon Petroleum Corporation (NYSE: MPC) announced the board of directors declared a dividend of 42 cents per share on common stock, a 20 percent increase in its quarterly dividend. The dividend is payable Sept. 10, 2013, to shareholders of record as of the close of business Aug. 21, 2013.

“This is MPC's third dividend increase in the past 24 months and represents a 110 percent increase over the dividend at the time we became an independent public company,” said President and Chief Executive Officer Gary R. Heminger. “This increase reflects our confidence in the company and our commitment to strike a balance between making investments in the business to grow our core earnings and returning capital to shareholders.”