UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
July 25, 2000
USX Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-5153 25-0996816
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
600 Grant Street, Pittsburgh, PA 15219-4776
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(Address of principal executive offices) (Zip Code)
(412) 433-1121
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(Registrant's telephone number,
including area code)
<PAGE> 2
Item 5. Other Events
On July 25, 2000, USX Corporation announced that the Board of Directors declared
a dividend of 23 cents per share on USX-Marathon Group Common Stock, an increase
of 2 cents per share. The dividend is payable September 9, 2000, to
stockholders of record at the close of business August 16, 2000.
USX Corporation also announced that its Board of Directors has authorized the
spending of up to $450 million to repurchase shares of its USX-Marathon Group
Common Stock, such purchases to be made from time to time as the Corporation's
financial condition and market conditions warrant. Any purchases under the
program may be in either open market transactions, including block purchases, or
in privately negotiated transactions. The repurchase program does not include
specific price targets or timetables, and is subject to termination prior to
completion. At the current stock price, approximately 6% of Marathon's 312
million shares outstanding could be repurchased. USX-Marathon Group will use
cash on hand, cash generated from operations, or cash from available borrowing
to acquire the shares.
During the repurchase program, offerings of Marathon Stock under the Marathon
Group Dividend Reinvestment and Direct Stock Purchase Plan will be suspended for
first-time, non-employee purchasers.
A copy of the press release announcing the transactions is attached.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1. USX Press Release
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
USX CORPORATION
By /s/ Larry G. Schultz
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Larry G. Schultz
Vice President - Accounting
Dated: July 25, 2000
