Anadarko Doubles Quarterly Dividend

Anadarko Doubles Quarterly Dividend

The Board of Directors of Anadarko Petroleum Corporation (NYSE: APC) today declared a quarterly cash dividend on the company’s common stock of 18 cents per share, a 100-percent increase from 9 cents per share in the previous quarter. The dividend is payable Sept. 25, 2013 to stockholders of record at the close of business on Sept. 11, 2013.
“This substantial increase in our cash dividend reflects the confidence we have in our portfolio and its capability to deliver capital-efficient growth within cash flow,” Anadarko Executive Vice President and CFO, Bob Gwin said. “We continue to focus on generating strong returns for, and returning cash to, our shareholders, and this is a very positive step in that direction.”
The amount of future dividends for Anadarko common stock will depend upon earnings, financial condition, capital requirements and other factors. The Board of Directors will determine dividends on a quarterly basis.
Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2012, the company had approximately 2.56 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies.
Source: Anadarko
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