Murphy Oil Corporation (MUR) will cut its quarterly dividend by 28.6 percent to $0.25 per share in 2016. This follows a 12.0 percent dividend hike by the energy company two years ago.

Murphy Oil Corporation is a global oil and natural gas exploration and production company. The Company was originally incorporated in Louisiana in 1950 as Murphy Corporation. Murphy’s exploration and production activities are subdivided into three geographic segments, including the United States, Canada, and all other countries. Additionally, Corporate activities include interest income, interest expense, foreign exchange effects, corporate risk management activities and administrative costs not allocated to the segments. The company’s corporate headquarters are located in El Dorado, Arkansas.