Occidental Petroleum Increases Dividend
July 12 2018 - 1:15PM
Occidental Petroleum Corporation (NYSE:OXY) said today that its
Board of Directors has declared an increase of the company’s
regular quarterly dividend to $0.78 per share. On an annual basis,
the dividend is $3.12 per share at the new rate, compared to the
previous annual rate of $3.08 per share.
The $0.78 per share quarterly dividend will be payable on
October 15, 2018, to stockholders of record as of the close of
business on September 10, 2018.
President and Chief Executive Officer Vicki Hollub said, “The
dividend increase reflects our commitment to growing Occidental’s
dividend annually for our shareholders, and our confidence in the
company’s financial strength and future performance.”
Occidental has now increased its dividend every year for 16
consecutive years. The total increase in the annual dividend rate
from 2002 exceeds 500 percent. Occidental has paid quarterly
dividends continuously since 1975.
About Occidental Petroleum
Occidental Petroleum Corporation is an international oil and gas
exploration and production company with operations in the United
States, Middle East and Latin America. Headquartered in Houston,
Occidental is one of the largest U.S. oil and gas companies, based
on equity market capitalization. Occidental’s midstream and
marketing segment gathers, processes, transports, stores, purchases
and markets hydrocarbons and other commodities. The company’s
wholly owned subsidiary OxyChem manufactures and markets basic
chemicals and vinyls. Occidental posts or provides links to
important information on its website at www.oxy.com.
Forward-Looking Statements
Portions of this press release contain forward-looking
statements and involve risks and uncertainties that could
materially affect expected results of operations, liquidity, cash
flows and business prospects. Actual results may differ from
anticipated results, sometimes materially, and reported results
should not be considered an indication of future performance.
Factors that could cause results to differ include, but are not
limited to: global commodity pricing fluctuations; supply and
demand considerations for Occidental’s products;
higher-than-expected costs; the regulatory approval environment;
not successfully completing, or any material delay of, field
developments, expansion projects, capital expenditures, efficiency
projects, acquisitions or dispositions; uncertainties about the
estimated quantities of oil and natural gas reserves;
lower-than-expected production from development projects or
acquisitions; exploration risks; general economic slowdowns
domestically or internationally; political conditions and events;
liability under environmental regulations including remedial
actions; litigation; disruption or interruption of production or
manufacturing or facility damage due to accidents, chemical
releases, labor unrest, weather, natural disasters, cyber-attacks
or insurgent activity; failure of risk management; changes in law
or regulations; reorganization or restructuring of Occidental’s
operations; or changes in tax rates. Words such as “estimate,”
“project,” “predict,” “will,” “would,” “should,” “could,” “may,”
“might,” “anticipate,” “plan,” “intend,” “believe,” “expect,”
“aim,” “goal,” “target,” “objective,” “likely” or similar
expressions that convey the prospective nature of events or
outcomes generally indicate forward-looking statements. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Unless legally required,
Occidental does not undertake any obligation to update any
forward-looking statements, as a result of new information, future
events or otherwise. Material risks that may affect Occidental’s
results of operations and financial position appear in Part I, Item
1A “Risk Factors” of Occidental’s Annual Report on Form 10-K for
the year ended December 31, 2017 (the 2017 Form 10-K).
Contacts: Media: Melissa E. Schoeb 713-366-5615
melissa_schoeb@oxy.com
or
Investors: Jeff Alvarez713-215-7864jeff_alvarez@oxy.com
On the web: www.oxy.com
Occidental Petroleum (NYSE:OXY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Occidental Petroleum (NYSE:OXY)
Historical Stock Chart
From Apr 2023 to Apr 2024