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Stock Market & Financial Investment News

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December 4, 2013
10:02 EDTMPCMarathon Petroleum to invest $2.4B in Pipeline Transportation during FY14-FY16
MPC CFO Don Templin emphasized the company's balanced approach to business investment and capital returns, and provided investors with a look at the company's 2014-2016 capital investment profile. Templin noted that over the next three years, MPC expects to invest $640M in midstream assets that are a part of its Refining & Marketing segment; $2.4B in Pipeline Transportation, including MPLX; and $925M on growing the Speedway convenience store segment. This represents a $2.4B increase compared with the amount spent on these segments during the previous three-year period. Templin also pointed out that MPC intends to return 100% of its through-cycle free cash flow to shareholders via dividends and share repurchases. "Our sharp focus on shareholder returns since becoming a publicly traded company in July 2011 has resulted in cumulative capital returns of $4.6B through Q3"
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