ConocoPhillips Raises Quarterly Dividend by 38% to 42 Cents
October 07 2019 - 9:10AM
Dow Jones News
By Colin Kellaher
ConocoPhillips (COP) on Monday said its board raised the
quarterly dividend by 38% to 42 cents from 30.5 cents.
The new payout, equal to $1.68 a year, represents an annual
yield of about 3.14% based on Friday's closing price of $53.50, up
from about 2.28%.
The Houston energy company also said it expects to buy back $3
billion of stock next year. ConocoPhillips, with about 1.11 billion
shares outstanding, sports a market capitalization of roughly $59.4
billion.
ConocoPhillips said the increased dividend is payable Dec. 2 to
shareholders of record Oct. 17.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 07, 2019 08:55 ET (12:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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