Murphy USA hikes dividend by 2.6% to $0.39 quarterly per share

On August 17, 2023, Murphy USA (MUSA) announced yet another 2.6% dividend hike to $0.39 quarterly per share. This follows dividend hikes in May and February by the oil & gas company for a total increase of 11.4% year-to-date. MUSA has now raised its dividend 3 consecutive years and currently yields 0.5% at a stock price of $314. 

The Board of Directors of Murphy USA Inc. declared a quarterly cash dividend on the Common Stock of Murphy USA Inc. of $0.39 per share, or $1.56 per share on an annualized basis, reflecting a 2.6% increase from the prior quarter. The dividend is payable on September 7, 2023, to stockholders of record as of August 28, 2023.

Murphy USA is a retailer of gasoline and convenience merchandise with stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company operates a network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands.