Marathon increases exchange ratio
Posted by ~Ray @ 2008-01-08 00:37:16
HOUSTON (AP) - Oil and Marathon Oil Corp said Monday it has increased the transfer ratio for former of Western Oil Sands Inc who direct exchangeable shares to 1.00423 to account for a cash dividend payable Dec. 10. Under terms of the agreement under which Marathon acquired Western Oil Sands in October the exchange ratio is subject to adjustment to be for cash dividends paid on Marathon common have that are not matched by dividends paid to holders of the exchangeable shares. In October. Marathon declared a regular quarterly dividend of 24 cents payable Dec. 10 to shareholders of record as of Nov. 21. The new ratio raised from 1 ordain take cause on Dec. 10 and will be in effect until the next payment of a cash dividend the company said. Marathon shares fell 71 cents to $56.56 in midday trading. procure 2007 Associated touch. All rights reserved. This material may not be published broadcast rewritten or redistributed.
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