Our profitability benefits our shareholders
Whether they are individual investors, pension funds, mutual funds, insurance companies or others, MPC’s shareholders benefit from their ownership stake in the company.
One of the simplest measures of this benefit is how much the value of your ownership stake would grow as an investor. For example, if you had invested $100 in MPC when we became an independent company in June 2011, you would have seen the value of your stock grow to more than $235 by the end of 2014. This compares favorably to other refining companies, and to the Standard & Poor’s 500 Index. That $100 would have grown to an average of about $129 with our refining peers,* and to just over $168 with the S&P 500. “Certainly it’s gratifying to see the value of our shares increase, but that’s only part of the story,” says Geri Ewing, director of Investor Relations. “It’s important to consider the other ways we share our prosperity with shareholders, such as our share repurchases and dividends.”
In 2014, MPC paid $524 million in dividends to shareholders, and returned another $2.13 billion to shareholders through share repurchases. Since MPC began as a publicly traded company in mid-2011, we returned a total of $7.8 billion to shareholders through the end of 2014. That averages $6 million every day.
While providing returns on our owners’ investment in MPC is a basic duty of the company, Ewing says an even more important imperative makes those returns possible. “What we always keep in mind is that we can’t meet our owners’ expectations unless we meet our millions of customers’ needs efficiently,” she says. “That means we have to be safe, protect the environment, be a good neighbor and out-compete the rest of our industry. In short, we have to adhere to our values and work hard, and we do that every day.”
* Through the end of 2014, our refining peers included BP PLC, Royal Dutch Shell PLC, Chevron Corporation, HollyFrontier Corporation, Phillips 66, Tesoro Corporation, ExxonMobil Corporation and Valero Energy Corporation.