HOUSTON, May 21 /PRNewswire-FirstCall/ -- Marathon Oil Corporation
(NYSE: MRO) announced on April 30, 2008, that the Company's board of
directors declared a dividend of 24 cents per share on Marathon Oil
Corporation's common stock. The dividend is payable June 10, 2008 to
stockholders of record May 21, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051027/DATH029LOGO )
In connection with Marathon's acquisition of Western Oil Sands Inc. and
the terms of the provisions applicable to the exchangeable shares, the
ratio at which exchangeable shares may be exchanged for shares of Marathon
common stock is subject to adjustment to account for cash dividends paid on
Marathon common stock that are not matched by dividends paid to holders of
the exchangeable shares.
For former shareholders of Western Oil Sands Inc. who hold exchangeable
shares, the new exchange ratio is 1.01362. The new exchange ratio will take
effect on June 10, 2008 and will remain in effect until the next payment of
a cash dividend.
The New Exchange Ratio is calculated as follows:
Current Exchange Ratio 1.00909
Increase in Exchange Ratio* 0.00453
New Exchange Ratio 1.01362
Effective Date of the New Exchange Ratio June 10, 2008
* The increase in the Exchange Ratio is calculated by multiplying the
Marathon dividend per share of common stock by the Opening Exchange Ratio
and dividing by the five day weighted average trading price of MRO common
stock on the date that is three business days prior to the Marathon
dividend record date.
Media Relations Contacts: Lee Warren 713-296-4103
Scott Scheffler 713-296-4102
Investor Relations Contacts: Howard Thill 713-296-4140
Chris Phillips 713-296-3213
Michol Ecklund 713-296-3919
SOURCE Marathon Oil Corporation
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Related links:
http://www.marathon.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20051027/DATH029LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media Relations Contacts: Lee Warren,
+1-713-296-4103, Scott Scheffler, +1-713-296-4102, Investor
Relations Contacts: Howard Thill, +1-713-296-4140, Chris
Phillips, +1-713-296-3213, Michol Ecklund, +1-713-296-3919, all
of Marathon Oil Corporation
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