Marathon Oil raises quarterly dividend by 33%, cuts debt – Reuters

Marathon Oil raises quarterly dividend by 33%, cuts debt – Reuters

Marathon Oil Corp (MRO.N) on Thursday became the latest U.S. oil producer to raise its quarterly dividend as COVID-19 vaccine rollouts and increased travel demand lift crude prices.

The company raised its dividend by 33% to 4 cents per share and said it redeemed $500 million in debt, addressing its next significant maturity.

Oil major Chevron Corp (CVX.N) had raised its quarterly payout by 5 cents to $1.34 per share on Wednesday, while Continental Resources Inc (CLR.N) reinstated its dividend.