HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared an increase of the company’s regular quarterly dividend to $0.77 per share. On an annual basis, the dividend is $3.08 per share at the new rate, compared to the previous annual rate of $3.04 per share.
President and Chief Executive Officer Vicki Hollub said, “Occidental has now increased its dividend every year for 15 consecutive years. The total increase in the annual dividend rate from 2002 exceeds 500 percent.”
“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,” said Board Chairman Eugene Batchelder.
Occidental has paid quarterly dividends continuously since 1975. The $0.77 per share quarterly dividend will be payable on October 16, 2017, to stockholders of record as of September 11, 2017.
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.