Murphy Oil (NYSE:MUR) is keeping its dividend policy level with its latest payout. The company announced that it will distribute a quarterly dividend of $0.3125 per share of its common stock on June 3 to shareholders of record as of May 17. That matches Murphy Oil's previous three regular quarterly distributions, the most recent of which was handed out in February.
The company has managed to keep that dividend level despite a reorganization. It is currently in the process of spinning off its downstream business into a separate entity, to be called Murphy Oil USA. Following the announcement of the move last October, the company paid its shareholders a special distribution of $2.50 per share.
The just-announced dividend annualizes to $1.25 per share. That yields just under 2% at Murphy Oil's latest closing stock price of $62.95
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