Marathon Petroleum raises dividend, pressing yield above energy-sector peer group

Marathon Petroleum Corp.

MPC, -3.12%

said Monday it will raise it quarterly dividend by 9.4%, to 58 cents a share from 53 cents. The stock was still inactive in premarket trading. The new dividend will be payable March 10 to shareholders of record on Feb.19 Based on Friday’s stock closing rate of $5449, the brand-new yearly dividend rate suggests a dividend yield that rises to 4.26%from 3.89%. In comparison, the SPDR Energy Select Sector ETF’s.

XLE, -2.58%

dividend yield since Friday was 3.96%and the implied yield for the S&P500

SPX, -1.52%

82%, according to FactSet. Marathon Petroleum’s stock has actually toppled 19.9%over the past 3 months, while the energy ETF has lost 4.9%and the S&P 500 has actually acquired 9.0%.

%.

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