Marathon Petroleum (MPC) Approves Two-for-One Split

Marathon Petroleum (NYSE: MPC) announced that its board of directors declared a dividend of $0.50 per share on common stock on a pre-split basis. The dividend is payable on June 10, 2015, to shareholders of record as of the close of business May 20, 2015.

MPC also announced that its board of directors declared a two-for-one stock split in the form of a stock dividend to be distributed on June 10, 2015, to MPC shareholders of record as of the close of business May 20, 2015. Shareholders will receive one share of MPC common stock for each share held as of the close of business on the record date. The shares are expected to begin trading on the split-adjusted basis June 11, 2015. The split will have no impact on the regular $0.50 per share cash dividend also announced today, which is payable on pre-split shares.

"MPC has performed very well for its owners since we became an independent company in mid-2011," said President and Chief Executive Officer Gary R. Heminger. "Our share price has increased substantially since the spinoff, and we believe the stock split will make our shares more affordable for a wider range of investors, and reflects our confidence that the value proposition for MPC shareholders remains very strong."

For more information on the stock split, MPC will post a "Frequently Asked Questions" document on its Investor Relations website at http://ir.marathonpetroleum.com.

On April 30, MPC will provide an update on its 2015 first-quarter results through an earnings news release, to be followed by a conference call scheduled for 10 a.m. EDT that day.

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