PR Newswire
HOUSTON , April 29, 2021 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced today that the Company fully redeemed its $500 million aggregate principal amount of 2.8% Senior Notes Due 2022. This transaction will reduce annual cash interest expense by $14 million .
Marathon Oil also announced today that the Company's board of directors has declared a dividend of 4 cents per share on Marathon Oil Corporation common stock. The dividend is payable on June 10, 2021 , to stockholders of record on May 19, 2021 .
"We have swiftly followed through on our commitment to reduce our gross debt by at least $500MM in 2021, fully addressing our next significant debt maturity, and have also raised our quarterly base dividend by over 30%," said Chairman, President and CEO Lee Tillman . "These actions are fully consistent with our objective to both further enhance our investment-grade balance sheet and return an increasing amount of capital to shareholders."
Media Relations Contact:
Rebecca Skiba : 713-296-2584
Investor Relations Contacts:
Guy Baber : 713-296-1892
John Reid : 713-296-4380
SOURCE Marathon Oil Corporation