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MPLX - Marathon Petroleum's Problem: Spending The Speedway Cash
MPLX LP Representing Limited Partner Interests
Marathon Petroleum's sale of Speedway to 7-11 for $21 billion is complete; however, the FTC is requiring the spinoff of 270 stations and investors appear underwhelmed by initial plans for proceeds.
This $40 billion market cap company, also a 62% owner of $30.7 billion MPLX, pays a regular dividend of 3.8%.
MPC has closed three refineries and is converting two of them to renewable diesel for the California market.