In what may point to a solid earnings report, Murphy Oil (NYSE:MUR) today raised its quarterly dividend 10 percent, to 27.5 cents a share. Annually that translates to $1.10 a share.
Shareholders of record as of August 16 will be paid the dividend on September 1, said Murphy.
Murphy, which recently said they're divesting of the refinery assets, along with 457 gas stations located in Britain, cited solid cash flow and rising production as the reasons behind the dividend boost.
Right before close, Murphy was at $56.91, a gain of $1.16, or 2.08 percent, as of 3:53 PM EDT.
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