The Board of Directors of Murphy Oil Corp. (NYSE: MUR) today declared a quarterly dividend on the Common Stock of Murphy Oil Corporation of $.275 per share, or $1.10 per share on an annualized basis. The previous annualized dividend level was $1 per share.
The dividend is payable Sept. 1 to holders of record Aug. 16.
In commenting on the 10 percent dividend increase, David M. Wood, president and chief executive officer, said: “We are pleased to announce to our shareholders that we will increase the dividend by 10 cents per share. The increase in our dividend payout is attributable to a combination of consistent production growth, good cash flow from our operating assets and our expected ability to continue to fund our ongoing growth initiatives, including a robust exploration program, oil and gas development projects, and U.S. retail marketing build out.”
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