Occidental Increases Dividend
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.