Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared an increase of the company's regular quarterly dividend to $0.79 per share. On an annual basis, the dividend is $3.16 per share at the new rate, compared to the previous annual rate of $3.12 per share.
The $0.79 per share quarterly dividend will be payable on October 15, 2019, to stockholders of record as of the close of business on September 10, 2019.
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 17 consecutive years. The total increase in the annual dividend rate from 2002 exceeds 500 percent. Occidental has paid quarterly dividends continuously since 1975.
Occidental 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 purchases, markets, gathers, processes, transports and stores 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 oxy.com.
Melissa E. Schoeb
On the web: oxy.com