Marathon Oil (NYSE:MRO) has elected to pump a little more dividend through its pipeline. The company declared a quarterly common stock dividend of $0.19 per share, to be paid on Sept. 10 to shareholders of record as of Aug. 21. That amount is $0.02, or 12%, higher than Marathon Oil's preceding distribution, which was $0.17 paid in June.
The company has been a reliable dividend payer over the years. Since the beginning of 2008, its distribution has climbed steadily from $0.1462 to the present level.
The new dividend annualizes to $0.76 per share. That yields 2.1% at Marathon Oil's most recent closing stock price of $36.36.
Fool contributor Eric Volkman has no position in Marathon Oil. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.